You are here: Home - Mortgages - Buy To Let - News -

Landlords not fearful of Brexit

Written by: Christina Hoghton
If the UK votes to leave the EU today, letting agents do not fear a major shift in the rental market.

Lettings agents don’t think that supply, demand, or rental costs will be significantly affected by the result of today’s referendum, whatever the outcome, according to the Association of Residential Letting Agents (ARLA).

In a survey it found that two thirds of agents expect supply to stay the same if the UK votes to leave the EU, compared to just a fifth who predict it will fall as international landlords pull out of the market.

Drop in demand

A third of letting agents expect to see demand for rental property decreasing in the event of Brexit, as relocating to the UK becomes a less attractive prospect, but over half (55%) disagree, saying it will remain just as high.

In London, almost half (43%) of agents expect the number of prospective tenants per property to fall if we leave the EU, as international demand weakens.

While 19% of agents expect a Brexit result to cause upward pressure on rent costs, the majority don’t imagine a massive change for tenants’ rents, if Britain exits the EU.

David Cox, managing director of ARLA, said: “There is no avoiding the EU Referendum at the moment; and whatever the outcome, we are likely to feel the impact of the fallout of this debate in different ways.

“However, it’s important to put this into perspective and not get carried away in a zeitgeist. As outlined in our recent Brexit Report, the lettings market hosts a large number of non-UK born citizens and any change in migration policy is likely to have an impact down the line, especially in London. However, our monthly report clearly shows the sentiment amongst members is that the immediacy of this effect is likely to be minimal.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week