The majority of UK property investors are unconcerned about Brexit, according to statistics released on Wednesday.
A survey of over 500 UK property investors by Market Financial Solutions (MFS) has revealed just how much Brexit is affecting their long-term investment strategies.
Despite the uncertainty caused by on-going Brexit talks, it seems the majority of property investors have carried on with their financial strategies unperturbed. When reflecting on the period since the EU referendum, almost two-thirds (64%) of respondents said Brexit has not impacted their property investment decisions at all.
In fact, 45% of investors said they had bought at least one more property since 23 June 2016, whereas only 7% said they had sold one or more real estate asset as a direct result of Brexit.
Even with the new 12 April deadline quickly approaching, the research revealed the majority of investors do not see Brexit affecting their future plans. More than half (57%) of respondents said they will not change their long-term property investment strategy once Britian withdraws from the EU.
What’s more, there could be a surge in activity within the real estate market after Brexit formally takes place, as almost a third (29%) of investors said they have lined up new purchases for once the deadline has passed. However, potential further delay to the Brexit deadline could see this activity stalled.
“There is a sense of Brexit-fatigue setting in across most financial sectors. But while some predicted this uncertainty would cause house prices to tumble and property investors to flee the market, today’s research [shows] appetite for real estate as an investment asset has remained strong,” MFS CEO Paresh Raja said.
“It is positive to note the majority of property investors have been actively seeking new opportunities regardless of Brexit, and such buoyant behaviour looks set to continue over the coming months. Although a degree of hesitancy at times like this is inevitable, the research underlines the long-term strength of bricks and mortar investment to weather such periods.”