Following on from the Brexit vote, the property market has suffered some uncertainty about its near future.
With buy to let properties becoming a more popular way of raising income, is it worth investing in these properties, despite the referendum result?
Mark Walton, the managing director of Walton Robinson shared his thoughts.
"THE buy-to-let market is certainly a tough place to be at present.
With the double whammy of the fallout from the Brexit vote, combined with the impending tax changes, the outlook for the sector is uncertain to say the least.
Undoubtedly, the short-term future is going to be tough - but investors should not lose sight of the longer term and the opportunities the impending dip in the property market could present.
Landlords should be braced for tough times ahead, while being mindful of their options and whether or not they want to be in it for the long term. Roughly, the options are: Sell up - many landlords want to exit the market before the effects of Brexit and Section 24 have the chance to take effect, and are selling now while residential property prices are still relatively strong, and before they are subject to the predicted dip.
Sit tight - the likely decrease in the size of the buy-to-let market and the amount of rental properties could work in favour of landlords who are in it for the long game. Shorter term, it is certainly going to be difficult as margins are squeezed and property prices fall, but as the market recovers, so will the value of your stock.
Take advantage of opportunities - with every change comes opportunity, and the same is true in property. Falling property prices, alongside an increase in stock as many landlords sell up, will mean a wealth of investment opportunities for ambitious investors who are already looking to the future. Many are looking, and indeed buying, even now.
Buy-to-let is a market which is definitely facing more than a few bumps in the road. For many landlords, this will mean their exit from the sector. But looking at the longer term, there are certainly opportunities to be taken."