Which is a bit of relief for us here at Devere Letting Bureau. There was plenty of speculation about how the property market would be affected by a Leave vote in the lead up to the Brexit referendum, but all I know is that we were having a far quieter Spring than normal. There did appear to be a wobble in the residential property market in the lead up to the referendum.
Why, though? I have given up trying to predict the market, but new tenants certainly decided to stay away with existing tenants electing to stay put for another year. Luckily, it does seem to have been a minor blip as we now seem a bit busier again and as a landlord, I still think that an investment property would be a good place to invest your money.
As a dedicated Letting & Property Management specialist we don’t deal with Residential Sales, (luckily) there are just too many of them in a confined area these day’s, (they should be regulated but never will be). Prior to the referendum I could also see that, post referendum, our business would fair better than an Estate Agency should we vote out. If I had been running sales, I would have been long advising sellers not to be over-ambitious on asking prices given that housing markets dislike uncertainty. That uncertainty could well become a reality now we have voted to leave the EU… I am glad I am sitting in a lettings business rather than a sales office.
Nobody knows what will happen, (not even the so-called experts) in my opinion and it will take a while for the dust to settle after the country voted to leave. The outlook is uncertain, with a possible slowdown or fall in house prices. But the future could be bright for potential investors!
Please come and talk to us if you are a new or existing landlord, De Vere Letting Bureau have been established since 1994, letting single dwellings and entire portfolio’s on behalf of landlords both here and abroad.
With the insecurity of Shares, Pensions and other investments, I still know where I would choose to invest my money.