Rental Housing Market Central Housing Group

Brexit Uncertainty For Rental Housing Market

The uncertainty created by Theresa May’s ongoing attempts to wrangle a last minute Brexit deal is having a ‘catastrophic’ effect on confidence in the Rental Housing Market, it has been claimed.

The comments are made within research by an independent housing expert into Brexit and the property market for Belvoir published today, including some alarming claims by several franchisees.

Kate Faulkner canvassed a random selection of the company’s agents and found that although 86% believed rents will remain static or rise after we leave the European Union, 77% thought house prices will either stay the same or fall.

“Typically, uncertainty about the future of the rental housing market results in three things – low numbers of transactions, price stagnation or falls, and rents struggling to rise, even where demand is higher than supply,” says Dorian Gonsalves, CEO of Belvoir.

“However our survey suggests that rents in 2019 may break from past trends, with the majority of offices predicting rental increases or static rents, primarily due to government legislation and shortage of supply.”

FALLING PRICES

Faulkner’s research  also reveals that 40% of the agents she canvassed about the property market expected house prices to actually fall next year.

“For example, Belvoir Tunbridge Wells, in the South East, reported that political uncertainty is prohibiting people from putting their properties on the market, and therefore stocks are low,” says Gonsalves.

The local franchisee  also said people who have already put their houses on the market in the South East are unable to find anything suitable to buy, driving an increase in the number of people looking for rented property in the three-bedroom plus family market.

Blog Post from The Negotiator

See details of our Guaranteed Rent Scheme here

If you have any comments, please email the author of this article and click on the link above

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors



Registered Office: Woodgate Studios, 2-8 Games Road, Cockfosters, Hertfordshire, EN4 9HN | Registered in England and Wales | Registered Company No. 3961047 | VAT Registration No. 752 6015 48

 

Social Media Auto Publish Powered By : XYZScripts.com
Google Rating
4.8
Based on 110 reviews
js_loader