A poll from LandlordZone has detailed the panic from landlords surrounding the uncertainty of Brexit.
The poll asks their readers questions in an attempt to see how landlords feel about the year ahead of them.
Despite estate agents recently announcing a ‘Boris bounce’ in the housing market, the majority of landlords asked believe that leaving the EU will make their lives harder in the long-term.
The survey, comprised of LandlordZone subscribers, revealed that they fear the changes post-Brexit could hurt supply and demand, giving them less tenant options, and longer vacant periods.
They asked: ‘Now that the dust has settled, do you think Brexit will have a positive or negative impact on landlords in the UK?’
A majority – 57.9% – said that it would have a negative impact, and only 42.1% believed it would have a positive one.
With the ARLA PropertyMark survey showing that more landlords than ever are planning on leaving the sector, and house prices falling, landlords are clearly waiting for some clarity.
This comes after more bad news for landlords, with tax reliefs being cut and the infamous Tenant Fees ban.
Many landlords are selling up, and others fear adding to their property portfolio.
However, a volatile property market does move people away from buying, and into renting, while estate agents are still rejoicing over the bounce following the general election.
This rollercoaster of a year was summed up by Paul Shamplina, founder of Landlord Action, who believes the Conservatives’ win will give some much needed stability to the housing market.
“During the run-up to the election, landlords were hugely worried about other parties getting in,” he says. “All I was hearing was doom and gloom and that they were planning to exit the market, so landlords breathed a sigh of relief at the election result.” But he adds: “The only problem Brexit might bring is if there are fewer EU tenants to generate demand. We also await the result of the Court of Appeal case on Right to Rent to find out whether the government pulls the scheme.”
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