It’s no secret that Brexit is causing UK property investors to be more cautious. However, a new survey commissioned by Experience Invest has revealed that we could see a boom in property investment once the Brexit deadline has passed.
According to the survey, the majority of respondents are taking a ‘wait and see’ approach, with some 55% saying that they have put their investment plans on hold for the past six months and 59% of those don’t intend to invest again until the Autumn 2019 budget is released.
Interestingly, despite their cautious approach, the majority of investors are confident that the property market will remain resilient in the long term after we leave the EU. According to the results, only 31% of respondents believe that Brexit will have a long-term detrimental effect on the property market.
The biggest take away from the survey was that we can expect to see an influx of investors returning to the market once the Brexit deadline has passed. A large percentage of investors are keeping their eye on the market and looking at properties, with 52% of respondents monitoring properties that they’re interested in but waiting to see if there are any fluctuations in price as Brexit approaches. Approximately 51% of respondents also agreed that there will be a surge of interest once the Brexit deadline passes.
Speaking of the results of the survey, Jerald Solis, business development and acquisitions director at Experience Invest, said: “There has been a great deal of speculation about how Brexit will impact the UK’s property market. Since the referendum, however, while some parts of the market have slowed or dipped slightly, prices on the whole have held firm or, in many regions, risen steadily.
“Nevertheless, our research clearly shows many property investors are now adopting a ‘wait and see’ approach as the Brexit deadline draws near. And this means there could be a surge of activity once Brexit materialises. Once the dust settles, investors are evidently preparing to spring back into life, which could result in far greater activity across the UK property market,” he added.
It was always the case that many investors would consider the current political climate to be a risky time to invest, but it’s also encouraging that so many are considering returning to the market once the deadline has passed.
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