The persisting Brexit issue
The majority of people want Britain to leave the EU but there are also those who are uncertain. This is the one topic which has remained at the forefront of many people’s minds for many months. After all this time there is still uncertainty about how the matter will eventually resolve itself and also how British citizens will be impacted. This also had an impact on the British property market. Buyers opinions and feelings play a major role in the health of the property market. This will almost always trump financial factors and statistics. Therefore, when public sentiment is at a low curve this will result in lower property prices. This will happen even in the face of overwhelming evidence that investment income has not been affected. It is public sentiment therefore that results in fluctuations in the property market. This is why with the current uncertainty surrounding Brexit UK house prices how taken a dip over the last year.
Knowledge is power
Not everyone is led by their emotions and sentiments. There are many experienced investors who remain objective and who welcome times such as these. They know that excellent investment opportunities become available at such times. Statistics show that a whopping 1.6 billion pounds of value has been lost in the UK property market because of the pervading negative attitude of people as this Brexit saga stretches its talons over the country. Because of this, fewer properties enter the market and prices are also substantially lower. This has led to a housing crisis of epidemic proportions. The demand for properties is still high but not enough homes are made available to supply in the demand. As things stand in the UK right now an additional 1.2 million homes must be made available just to supply in the current demand. It must never be forgotten that it is increasingly younger people who are renting properties. Renting prices continue to escalate and this is why the property market can be expected to grow tremendously in the coming years.
Approach all investments carefully
The UK property market is depressed and unstable and therefore investors should carefully consider their strategies. The Golden rule as far as property investments are concerned has always been to pay as little as possible. This is entirely possible because of the current anxiety which has been caused by Brexit. It will be those investors who successfully exploit the vulnerability of the property market who will be able to negotiate lower prices resulting in lucrative investments. Furthermore, never forget the current rental situation in the UK. Therefore, it will be beneficial to always go for properties to which additional rooms can be added. Many older properties have a large living room as well as a large kitchen. One of these can be successfully turned into additional rooms. Many property owners put profits first before the convenience of the tenants. Over the long term, this is never a good idea. People living in your property are not foolish. They will quickly see how you are treating your own property and then they will do the same. Failure to do timely maintenance can result in a situation where things which were neglected will add up which might require major maintenance and reconstruction projects. In order to benefit from the current Brexit situation will require extensive knowledge about property investments and also very careful and wise planning.
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