But how does this effect us, you and our future.
We are all in the dark as to what will happen over the next few weeks and months, however we at Capital Heights would like to help you plan for the future.
We not only help our clients with finding tenants for there properties, but we help with the management of their portfolios, advising them on where to invest and what would be the best properties to buy.
What happens to the market
Now we have left the EU, there is an uncertainty that many foreign nationals who live in the UK may have to leave as a result of the potential sticker immigration laws, this would lessen the competition for rental properties and therefore lead to lower rents. Around 37 % of residents being from foreign – born nationals and around 11% of this population being from the EU.
Foreign-born nationals are three times more likely to be renters than British-born residents, according to the Migration Observatory.
Brexit may also lead to a reduction in demand for rented homes and may cause a supply crisis in the rental market:
if landlords are unable to afford higher mortgage repayments due to worse economic conditions, they may sell up.
If you would like a free no obligation chat with us with regards to the future of the property market and how we can take advantage, please do get in contact.