Landlords: is Brexit good news?
This week, LandlordToday released figures suggesting that Brexit uncertainty could mean a rise in tenants.
Commenting on the news, Donna Cheney, Head of Lettings, said: “GFW Letting have seen strong rental growth in the financial year 2018/19 to date, with a 25% increase in the number of lets completed in comparison to the same period in the previous year; this is despite the uncertainty across the housing sector due to Brexit. There is always a market for rental properties as a mobile workforce often means that people will let instead of buy, giving them greater flexibility. Rental values across the North East have been steady for the past few years, and we see no reason why this will change, whatever the outcome of the Brexit negotiations. We do not think that the strong demand for rental accommodation will change in the near future, and now may be a good time for landlords to look at expanding their portfolios, or for a first time investor to enter the market, with strong demand, potentially cheaper purchase prices and steady rental levels.”