Some 35% of landlords in the UK are worried about Brexit and think that leaving the European Union will have a negative impact on their ability to attract tenants in the future, new research shows.
The latest findings form the monthly National Landlords Association (NLA) survey also shows that 39% believe that Brexit will have no significant impact on their business, 21% are unsure while just 5% say it will have a positive impact.
The research follows Prime Minister Teresa May’s announcement at the Conservative Party Conference that the process of the UK leaving the EU will be triggered by March 2017.
Across the UK, the findings show that more than half of landlords in central London, some 55%, believe Brexit will have a negative impact on their business, higher than any other region.
Just over a fifth of landlords in the North East, some 22%, think Brexit will have a negative impact, the lowest proportion compared to other regions of the UK.
The findings also come as the NLA launches its new podcast series Inside Property with the first presented by Richard Blanco focusing on what life after Brexit will look like for landlords.
‘These findings clearly show that a significant proportion of landlords are concerned about what Brexit will mean for their lettings business so we wanted to try to understand and make sense of the situation,’ Blanco said.
‘We now know that Article 50 will be triggered soon, but landlords still have lots of questions, like what will happen to rental demand as a consequence of Brexit, will house prices fall, or should I rethink my investment strategy?,’ he added.