Prepare Your Property Investment Strategy Ahead of Referendum Result
Tomorrow morning, we should learn of the result of today’s EU referendum. Ahead of the outcome, finance expert Paul Mahoney, of Nova Financial, advises property investors on planning for the future.
“The referendum is upon us, and regardless of the result, we are going to have to determine our property investment strategies moving forward,” he explains. “If the result is in, then the status quo will be maintained and there may even be a run in market due to pent-up demand given that many have been waiting for the result before making investment decisions.”
He continues: “If there is an out vote, then I suspect that those same people will hold off on their decisions and the market may become subdued. There have been predictions of a stock market crash and the pound dropping by up to 15% against the greenback, so overall the wealth of UK investors will drop initially, but it is difficult to predict the long-term effects.”
Mahoney advises: “As ever, it is important to seek out advice on how best to mitigate the impact and risks either way.”
Our recent research on the EU referendum found that over 60% of landlords and property professionals believe that we should stay in the EU.
However, the Association of Residential Letting Agents claims that the lettings market will be unaffected by the referendum in the short-term, regardless of the result.
Additionally, one estate agent believes that property sales will continue to rise whether we leave or stay in the EU.
But how do house prices compare across each of the 28 member states? eMoov has the figures, and it may surprise you that the UK is not the most expensive…