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Brexit Looms? Or Brexit Blooms?

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Fri 17 Aug 2018

Brexit Looms? Or Brexit Blooms?

The property market does not like uncertainty. It likes to know  which way is up and certainly doesn't do well when things are looking a bit 'wobbly'.

The negotiations for the leaving of the EU seem to have stalled again and with that has come a definitive  fall in house prices but this  stagnation is also affecting the lettings market and alongside a long hot summer we have been  seeing a fall in rental prices as well.

We are seeing longer void periods. A lack of European tenants making  applications is also fuelling the issue leaving us to wonder why there is still deemed to be a housing (rental) shortage when there are so many properties for rent  on the market, empty houses up and down the country and a suprus of student accommodation, especially in  Kingston and Roehampton but also SW London and greater Surrey area.

Recently we have implemented a new strategy which seems to be working, especially for our clients in the mid range rental  properties, so we are hopeful that over the autumn we will see more applicants and less rent reductions leading to quicker tenancy turnarounds.

Give us a call to see how we are processing this change and to see if it can help with your property or letting portfolio.