Brexit concerns for the buy-to-let market

Landlords, and those considering investment into the buy-to-let market, will have been keeping an anxious eye on the news, even before June 23^rd and the vote to leave the EU. 

 

Clear waters may seem a long way off, but there are encouraging signs on the horizon, and with the experienced hands of such seasoned property experts as Douglas Dickson on the tiller, landlords can find a course through the storm.

The opening of the £842 million Queen Elizabeth University Hospital has created a ‘mini-boom’ in housing in Govan and Glasgow’s South West. With 10,589 staff looking for property an easy commute from the 1,677 bed hospital, there are great opportunities for landlords to rent to professional tenants.

Douglas Dickson has already steered a number of investors towards property in the South West and surrounding areas with our buy-to-let service, helping them to take advantage of this increased rental demand.

With the hospital likely to be fully staffed by the end of summer, there is still time for the canny investor to purchase good rental properties.

With the uncertainty of Brexit affecting the residential property market, large swathes of first time buyers are finding that the deposits they had saved are not enough to secure a home.

This, coupled with a lack of good affordable properties on the market, is helping to fuel rental demand throughout Glasgow, which remains a very attractive city to study and work.
Douglas Dickson is achieving rent increases for its landlords and renting most properties back-to-back without any void periods.

The completion of the new hospital has allowed the sale of the old Victoria Infirmary Campus, and the Sanctuary Group is in discussions with Glasgow City Council to develop beautiful homes, retaining key heritage features from the historic site.

Between this, and the approval of plans to build 152 new houses in Ibrox, 36 of them aimed at mid-market rents, the future of Glasgow’s housing supply seems hopeful.

Brexit may have created a storm of uncertainty across the UK, but the fundamentals of the rental market remain unchanged and, with expert advice from Douglas Dickson, there are excellent investments to be made.

For further information, contact Neil Livingstone, Douglas Dickson Property Management Limited, 3 Fitzroy Place, Sauchiehall Street, Glasgow, G3 7RH. T: 0141 221 1827. F: 0141 248 6733. E: info@douglasdickson.co.uk W: www.douglasdickson.co.uk