There’s no question the impact of Brexit on the UK property market is clear to see.
The stats surrounding transactions and house prices in London and the South East, in particular, show the uncertainty of the UK’s European Union exit has taken a toll.
That means investors and landlords have had to take stock when considering boosting their portfolios – stock taken in between getting to grips with mortgage interest tax relief changes, new rules on Minimum Energy Efficiency Standards (MEES) and changes to regulations surrounding section 21 eviction notices among other legislation.
But despite the level of uncertainty, property investment, if done right, remains a great way to bolster or generate an income.
Landlords looking to invest in their portfolios further in the UK’s post-Brexit existence will, of course, need to consider their options.
Here are some of the factors you should be taking into account before making further investments…
Take a look at the high street
For a clear view on an area’s potential for growth and changes in demographics, landlords should look at the high street close to their potential investment area.
How are the shops performing? Are retail premises closing down, but new trendier shops moving in?
If the council has announced plans for regeneration, there will likely be a huge scope for growth and younger tenants looking to move to the area.
Surrey Heath Borough Council is investing a huge £150 million into redevelopment plans for Camberley’s London Road area to link the High Street and Park Street.
Civic, cultural and co-working spaces could be on the cards, while proposed new residential development could be music to the ears of landlords looking to bolster their portfolios.
A boost in employment prospects, also, will almost certainly bring younger people to the area looking for properties to rent.
Look for good schools
Living in a good school catchment area is right at the top of the family renter’s list. Indeed, securing a property to rent in a good catchment area is often far easier and finance-efficient than going through the process of buying a property.
Camberley has a host of good schools in the area and with families continuing to seek great homes to rent, investors should seek post-Brexit opportunities in the GU15 area in particular.
Seek out a good mortgage deal
Lending criteria is changing all the time and with Brexit just around the corner, this will almost certainly be a continuing trend.
And with predicted interest rate rises post-EU exit, securing a good mortgage deal will be hugely important to investors looking to boost their portfolios. Shopping around will be key.
Look for ways to add value to your buy-to-let property
Although achieving a good rental yield is top of most investors’ lists, bunkering down for the long-term could be a good strategy in a post-Brexit UK property market.
While the stagnation of house prices nationally may continue post-Brexit, or prices even take a turn in the wrong direction, the market has already shown its resilience since the referendum of 2016.
That means capital growth benefits for investors willing to bed in for the long-term could be substantial, while rental yields continue to perform well in Camberley thanks to demand fuelled by high employment in the area.
Adding value to your properties through renovation and decoration will help ensure those long-term capital growth benefits, as well as attracting good tenants.
Choose the right lettings agent
Whether it’s finding you a suitable investment property to buy, or ensuring your property is run efficiently and professionally through a full management service, choosing a good agent will be vital for investors post Brexit.
With so much legislation for landlords to consider when looking to increase their portfolios, the support of your agent has arguably never been more important.
Looking to bolster your investment portfolio but concerned about the impact of Brexit? Speak to one of our lettings experts who can help…
