Tax and economy 'more worrying than Brexit' for UK landlords
Brexit was predicted to be one of the most difficult things for landlords in the UK property market to deal with, as experts forecast that the vote to leave the EU would mean people not moving home as much, which would mean lower demand for homes.
However, according to a new study, landlords in the UK are not as concerned about the impact of the Brexit vote as they are over other issues that affect them. According to the latest survey from Direct Line for Business, only a little over a quarter (28 per cent) of landlords in the UK believe that Brexit is a short-term issue they need to be concerned with.
In contrast, the data also shows that there are large concerns over the economy and the way the government has changed the tax outlook for landlords in the past few years. According to Direct Line's survey, some 41 per cent of landlords are worried about taxation and the state of the economy in the UK.
Christina Dimitrov, business manager at Direct Line for Business, said: "It’s great to see landlords 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."
Other concerns from landlords at the moment in the UK property market include regulation, with 40 per cent of those surveyed worried about the impact of things like immigration checks being handed to landlords, who need to check out the right of their tenants to live in the UK.
In addition to this, landlords are also concerned about the issue of competition in the market. With 40 per cent of buy-to-let owners looking to expand their portfolios in the coming months, many are worried that the competition being created in the market will make it harder for them to find tenants thanks to an oversupply of property.