How do you see future performance for the UK property market?

Recent data suggests that the London property market is still softening and Brexit negotiations are by no means done and dusted (starting to doubt the UK will leave the EU now). Personally I would not be in a rush to buy London property in the short term but longer term I think it is starting to look good value.

 

It is a good time to invest in buy-to-let properties as demand for rental properties continues to grow and the supply is dwindling.

 

After signs that the European Union was being “reasonable” things have taken a turn for the worse and it looks like a no deal is on the cards. If you ignore the rhetoric in the papers, look at the currency markets with sterling taking a big hit against the euro and the dollar. Money talks in this industry!

 

It is always darkest before the dawn - long term buy to let investors should start cherry picking the better properties in the midst of all this confusion and concern over Brexit. The sky is not going to fall in with a no deal!

 

Those brave enough to follow their gut feeling will be able to pick up some rental gems in the short to medium term once Brexit fears take over the market (I think there is more to come in the short term). Long term the UK will survive and learn to adapt.

 

This flip-flopping of news regarding Brexit is becoming something of a joke and, as I mentioned above, it is worth ignoring the rhetoric and focusing purely on investment markets (especially currency markets) which tend to tell the underlying story. Personally, I think the UK property market may well tread water in the short term during which time there will be ample opportunity to cherry pick prime assets.

 

So, it looks as though Theresa May is about to sell the UK down the river by signing up to some form of customs union in the short to medium term. This would appear to be some kind of fudge before the UK “comes to its senses” and decides to retain membership of the European Union. Those who think this move would help steady property markets may be mistaken. It simply kicks the issue into the long grass leaving another extended period of uncertainty. Not a clever move!