Most 'active' buy to let investors undeterred by Brexit

Two thirds of landlords are completely undeterred by the Brexit result according to a new survey.

The sample size is small - only 97 respondents to the survey by SellingUp.com - but it does consist of ‘active’ landlords using investment website Property Tribes.

Of the respondents, 69 declared themselves to have been potentially in the market to buy more property and almost two thirds of that group said they will continue as before. 

Around one third of them will stop property hunting as a result of Brexit. 

Most of the investors polled were multiple landlords, with almost half owning two to five properties, a fifth having portfolios of between six and nine properties, and a quarter owning 10 or more. Just eight per cent of respondents owned only one buy to let property. 

“While this is a fairly small sample survey, the respondent quality is extremely high. Effectively, this poll suggests that one in three otherwise keen investment buyers has been removed from the market as a result of the Brexit vote, which could mean noticeably less competition for some properties, and possibly a resulting drop in prices” according to Oliver Lewis, the director of SellingUp.com.

“Put all together, the pressures on small investors from issues like the upcoming loss of mortgage interest tax relief, the new stamp duty 3% surcharge and other recent changes means that Brexit could be the tipping point that puts off thousands of otherwise active buyers in the UK property market.”