Brexit, new Prime Minister - What’s happening in lettings?
It’s been three weeks now since the UK voted to leave the EU- have we felt much change within lettings?
In short- no, if anything the market has felt stronger. The number of valuations we have booked has increased as has the number of applicants being registered. The phones are still ringing and we are busier than we were last summer.
Essentially people still need somewhere to live and letting gives a solution which is relatively low risk. We are still not building enough homes in the UK to meet demand which should help to keep house prices stable.
In the West Midlands we have very stable and strong employers which will keep tenant demand in the area very strong this coupled with employment levels being at a record high means we are unlikely to see any sort of slowdown in tenant demand. There is also the transport link draw- We have an excellent link of motorways (M5, M6, M40 & M42), extensive railway network and of course the impending HS2 development will not only make the capital easily accessible but will bring even more employment to the area.
If you are a property investor, then you be able to take advantage of attractively priced property and make offers that are much more likely to be considered than previously.
We now also have a new prime minister which should give stability and confidence to the market. The government have promised to look after the economy during this uncertainty and if necessary reduce rates and taxes in order to promote growth. Theresa May has pledged to make a success of Brexit and said that together we will build a better Britain.