It may be rare to see or hear optimism in the United Kingdom these days, so when you have positive news, you should embrace it. Therefore, the findings from a survey undertaken by The Property Hub should be taken as a bit of good news for the buy-to-let sector. It has been reported that 77% of landlords intend to expand their property portfolio in 2019 and only 2.9% of landlords were looking to sell off properties in the same period.
There was also a finding that 84% of landlords indicated they didn’t intend to sell any properties in the next three years. While Brexit draws closer with no certainty over what is going to happen, there will be people who say that no one can be sure what they will do next, but the fact that people are willing to look forward with optimism is something to cling to!
There is longer-term optimism for landlords
While there are many worries about the property market and property itself in the short-term, it would be fair to say that many people believe that property remains an excellent long-term investment or solution.
On the topic of Brexit, 70% of respondents suggested that they are unlikely to change their growth plans even if a No Deal Brexit occurred. 66% of respondents said that they are unlikely to sell if the government introduces further tax measures. Again, it is easy to say these things when the situation is hypothetical but the fact that landlords are looking at the positive side of life has to offer optimism to the market.
Rob Dix is a co-founder of The Property Hub and he said; “There’s been so much talk of a mass exodus of landlords and the death of buy-to-let, it’s easy for some would-be landlords to believe the rental market is on its knees. However, it’s clear from our survey that landlords are far from retreating from the market.”
Brexit is just one of the factors to consider in present-day rental market
There is no denying that the current situation in the United Kingdom is posing all manner of challenges and difficulties for landlords and tenants. Even though Brexit is far from the only issue impacting and influencing the market these days, it is a huge factor. Given the media focus and so many predictions, you cannot blame people for worrying about what may happen, but it is important to point out that some people remain positive and optimistic.
In Stockport, the local area has changed considerably in recent times and most residents would say for the better. The changing face of the town centre is increasing demand, for firms and households, and we think that Stockport landlords have a lot to look forward to.
As Stockport property specialists and a Propertymark estate agent, and we are always here to help. Give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html