Brexit not main concern for PRS Investors

Brexit not main concern for PRS Investors

According to a new survey by Direct Line for Business it would appear that in the current climate, Brexit is not the main concern for investors. Out of those surveyed, only 28% of buy-to-let investors cited Brexit as being a concern for what it might do to their investments and there were other things that outweighed it.

Over the last 12 months quite a few analysts predicted falling demands and poorer buy-to-let investments returns when the UK chose to leave the EU in June 2016. However, since then, there has been a slow but steady growth in rental prices and the demand is as strong as ever given the general lack of affordable housing.

The survey revealed that 41% were more concerned about the ever-increasing taxes for investors rather than Brexit. Other issues that surfaced was dealing with the competition from other landlords and keeping on top of regulation changes. For example, it is now a requirement for landlords to check that tenants have the legal right to live in the UK before installing them in any of their properties. Many investors feel that this adds more pressure and have concerns about facing stringent fines and penalties if they miss something.

Commenting on the survey, Christina Dimitrov, Business Manager at Direct Line for Business, said: “It’s great to see landlord’s being resilient towards the ever-changing property marketplace and it’s really positive to hear they don’t appear to be worried about Brexit and the impact on demand.”