Landlords are Remainers and see Brexit as a Threat

According to a recent poll, landlords in the UK voted to remain in the EU and are more likely to see Brexit as a threat. LandlordNews.co.uk summarises the key findings below.

The survey of 500 landlords across the UK by Intus Lettings has revealed that over half (52%) of landlords voted to remain, compared to 43% who voted to leave. The remaining 5% of participants admitted to not voting.

The results also show that 27% of landlords consider Brexit to be a threat to the buy-to-let market, while a smaller group, 22%, see it as an opportunity. Over half (51%) of landlords aren’t sure what it could mean either way.

Impact of Brexit on demand for property:

When it comes to the impact of Brexit on the demand for rental property in the UK, the lettings expert found that 38% of landlords believe it will have an effect. One in ten landlords (12%) think demand will increase, while one in four (26%) think it will reduce. Also, 51% of landlords think demand will stay the same, while one in five (21%) are unsure.

Results of the study by region:

Looking regionally, three areas of the UK bucked the trend and voted in favour of leave. In the North West, 54% of landlords voted leave, while the same was true for 53% of landlords in the East Midlands and 52% of those in the South West.

The most optimistic landlords according to the poll are those in the North East, with 38% of landlords there viewing Brexit as an opportunity for the market, while London landlords are the least hopeful – 39% of landlords in the capital consider our withdrawal from the EU to be a threat.

Age of landords:

Age didn’t have an effect on overall outcome for landlords, with remain making up the majority vote for all age groups. This contrasts with the general result of the EU Referendum, which saw younger generations strongly favour remain and older ones lean towards leave.

Hope McKendrick, lettings manager at Intus Lettings, said: “It’s fascinating to see that, were it up to landlords, we wouldn’t be leaving the EU. It’s likely that concerns around freedom of movement and the rights of EU nationals living in the UK influenced their decision, with such citizens making up a substantial proportion of renters in this country.”

The survey also found that 40% of landlords intend on buying an additional property for the purpose of renting it out in the next five years.

Hope added: “It is still unclear how the buy-to-let market will fare post-Brexit, but one thing that is for certain is that it hasn’t shaken the industry quite as dramatically as expected. There is still a lot of appetite for buy-to-let properties among investors and the private rented sector continues to grow.

“As long as landlords do their research and choose the right type of property in the right area, they can still expect to generate substantial yields for years to come.”

Written by: Jess Goodridge – jess.goodridge@landlordnews.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Breaking News

Breaking Property News – 28/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   tlyfe the tenant App gets huge marketing boost from national team tour from the Openbrix team As many will know tlyfe, powered by OpenBrix, is the UK’s most innovative tenant lifecycle app, taking the stress out of the move in process and helping to…
Read More
Breaking News

Over Four Out Of Five Tenants Unaware Of The Renters Reform Bill

OVER four out of five tenants remain unaware of the Renters (Reform) Bill and its contents, according to new research. The data comes from a representative survey of over 2,000 private renters conducted by the TDS Charitable Foundation, which works to advance education about housing rights and obligations in the private rented sector. The Bill…
Read More
Estate Agent Talk

What is Property Damage in a Personal Injury Case?

Property damage refers to any damage that affects things instead of a person. This might include damage to your car, house, etc. As such, it is not regarded as a personal injury case. However, when an individual is injured when the accident occurs, the affected person can file a personal injury claim. A typical example…
Read More
Love or Hate Rightmove
Breaking News

Rightmove comment on new 99% first-time buyer mortgage product

Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read More
Breaking News

Breaking Property News – 27/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Coadjute ahead of the game as they are already licensed to provide digital TA6 Forms to property stakeholders This week, the Law Society announced its TA6 Form will now include Material Information as per the the National Trading Standards Estate and Letting Agency Team…
Read More
Breaking News

Breaking Property News – 26/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sharing Success: The Guild Conference and Awards celebrate Member achievements The QEII Centre in Westminster, London, was abuzz with excitement on Friday, 22 March 2024, as The Guild of Property Professionals hosted its highly anticipated annual Guild Conference and Awards. Under the theme ‘Sharing…
Read More