Around 35 per cent of landlords are worried that leaving the EU will have a negative effect on tenant demand in their areas, that’s according to the latest findings from a National Landlords Association (NLA) landlord member survey.
On the other hand the NLA’s findings show that 39 per cent believe that Brexit will have no significant impact on their business, whereas 21 per cent are unsure and a the remaining 5 per cent think it will have a positive impact.
Full regional breakdown
|Property location||Brexit will have positive impact||Brexit will have negative impact|
|Yorks & Humber||12||24|
Results from the NLA Quarterly Landlord Panel – Q2 2016 (777 respondents)
The NLA’s research was prompted following Prime Minister Teresa May’s speech at the recent Conservative Party Conference in Birmingham where she stated that the process of the UK leaving the EU will be triggered by March 2017 and that we will be out completely in 2019, with no compromise on border controls.
London landlords are the most pesimistic about the Brexit effect on their businesses, and the NLA findings reflect this in that 55 per cent of central London landlords believe Brexit will have a negative impact on their business – the highest number of any other region.
Only just over one-fifth of North East landlords (22 per cent) think Brexit will affect the demand for their rentals.
On the landlords’ tax issue, The NLA say they have submitted to the Treasury their Autumn Statement submission which will be discussed with Housing Minister Gavin Barwell MP and later in the month with the Financial Secretary to the Treasury Jane Ellison.
In the submission the NLA are highlighting members’ concerns regarding Finance, cost relief (section 24 of the Finance (No. 2) Act 2015) and the Stamp Duty Land Tax levy, where they are advocating scrapping them, whilst also putting forward possible mitigation strategies for any unintended consequences.
One-third of landlords worried about Brexit https://t.co/WQNLRpe6y0
— LandlordZONE (@LandlordZONE) October 24, 2016