Is no deal that bad? How Brexit could benefit property owners
There’s been a lot of talk in the press recently about how a potential no-deal Brexit could damage property prices in Britain. New Prime Minister Boris Johnson is now almost a month into the job, and he is still promising that Britain will leave without a deal at the end of October if there is no concession from the EU. This has some property owners and investors spooked, and a sell-off could be imminent. However, there are two sides to every coin – and this article will explore what benefits a no-deal Brexit could have on the property sector.
The wider environment
It’s worth remembering that we live in a globalised world, and nothing happens in a bubble. While a weak currency is no good for Brits, it does mean that those coming from abroad have more buying power. It’s not out of the question that investors from countries like Russia, China and elsewhere could see just how many pounds they could get for their money and decide to snap up properties here. That, in turn, could help keep prices stable until things go back to normal.
Even if the above doesn’t materialise and prices go down, that’s not bad news for everyone. Even if you own a property yourself at the moment, it’s important to remember that while your property price might go down, so will the prices of more expensive houses – so it may even be a blessing in disguise, as you may be able to “port” your lower equity to a better property and wait for prices to rise again. This isn’t simple, of course, and those in negative equity will find it impossible, but for many homeowners, the numbers could add up and present themselves as a perfect investment opportunity. If you’re looking to sell your place in a hurry in order to take advantage of a particular economic event or set of circumstances, getting in touch with National Property Trade is a great idea