Buy-to-let remains strong despite Brexit

Ryan Fowler

June 30, 2016

buy-to-let buy to let house

Buy-to-let sentiment has remained positive despite the decision to exit the European Union, according to Paul Mahoney, managing director, Nova Financial.

There had been speculation that the market could stall if the British public voted to exit the EU. However so far these fears seem unfounded.

Mahoney said: “The response we’ve received from clients who are in the process of purchasing buy-to-let properties following the Brexit vote has been far more positive than one might expect and most are of the opinion that it is business as usual.

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“In fact we at Nova Financial have posted a record month for transactions in June with more of the same expected for July.”

The Nova MD attributed this boost to investment in cities in the north of England.

He said: “This may be due to most of our clients investing in the Northern Powerhouse cities like Manchester and Liverpool.

“It seems buyers are more concerned regarding the potential negative impact on the London market as opposed to other cities.

“We as property advisors agree with this attitude and view the London property market outlook as sombre whereas the main northern cities still provide very strong fundamentals.”