Property News. From Moving In.

Brexit and Stamp Duty uncertainty prompt buy to let investor pause

New research indicates that the majority of property investors in the UK have their plans on pause for the next six months until there is clarity over Brexit and any possible stamp duty reform.

The study, of 1,000 property investors by Experience Invest, shows that 55 per cent admit they have delayed their plans, with a similar number saying they will wait until at least the outcome of the Autumn Budget, expected before the end of the year.

Some 37 per cent say they have taken a listed property off the market due to a slowdown in activity while a larger number – 52 per cent – say they are monitoring property prices to see if there is any fluctuation before Brexit. 

Over half – 56 per cent – have no faith that Boris Johnson will make a success of Brexit.

However for the long-term, only 31 per cent think leaving the EU will negatively affect the value of their property portfolios.

“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” claims an Experience Invest spokesperson.

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Original Source: Letting Agent Today.

Original Author: Graham Norwood.

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https://www.lettingagenttoday.co.uk/breaking-news/2019/9/brexit-and-stamp-duty-uncertainty-prompt-buy-to-let-investor-pause