We’ve looked at a few of the negatives from a landlord’s perspective. The landlord tax changes coming in April and the implications. The fact that energy efficiency standards are tightening in the private rented sector.
But there’s reason for positivity too…
Whether you were happy with Boris Johnson’s resounding victory or not, one positive can’t be denied – the power of certainty.
Not everything is certain of course, Brexit is one mighty unpredictable hurdle to face, but the fact we have a majority government will provide a level of comfort for the markets. This should lead to more stock coming on to the market and rising house prices. Good news, whether you’re looking to invest and grow your portfolio or hold on to what you already have.
Thankfully, it seems the saga could finally be about to move on. With the Withdrawal Agreement Bill now passed things should continue to gather pace towards Brexit which will again provide some much-needed certainty to the UK markets.
There’s one big aspect that could have a large influence on what this means for landlords though… will we leave the EU with a deal or not?
There’s a lot of concern about what would happen if the UK leaves with no deal, with many commentators expecting that would lead to a negative knock-on effect initially.
‘Accountancy firm KPMG has predicted that house prices would fall by around 6% following a no-deal Brexit, but that they could drop by as much as 20% in a worst-case scenario.’
Of course, it’s impossible to predict what might happen but it’s likely that any drastic downturn would be short-lived whilst the UK adjusts to life outside the EU.
Regardless of a deal or not, again just getting through Brexit will provide some certainty. Similar to the effect of having a majority government, certainty should bring increased stock, more demand, more house movers, and rising prices – with time.
We know the challenges that lie ahead, and we also know that there will likely be unexpected challenges that arise, as a result of both legislative and political changes. That’s without considering things like changes in demand and changing tenant behaviours/trends.
It’s going to be another year of opportunity too. We’ve said many times in our articles that with new challenge comes new opportunity, and 2020 is set to be no different.
Plan for and ride out the challenges and keep your eye out for new opportunities hidden within these challenges.
Keep your eye out for deals like these on Property Deal Store. We’ll be adding a lot more as the new year goes on so make sure you’re signed up today – it’s free.
Contact us for more information at firstname.lastname@example.org or find out more about how to purchase a deal from the site here – Your Guide to Buying a Property on Property Deal Store.
We look forward to working with you in 2020!
All the best,
Janice Minihan, director and co-founder at Property Deal Store