Rental Market Still Strong Following Brexit

Whether a 'leaver' or a 'remainer', many landlords have expressed concerns regarding the rental market following the Brexit vote.

There have been predictions that the property market will drop, however ARLA's July private rental sector report found that the number of rental properties on lettings agents books in July was the highest so far this year, up 5% on June.

Seven in ten agents witnessed no change in rents, and six in ten saw no movement in both supply or demand.

As in June, a strong percentage of letting agents saw no sign of the markets being in distress following Brexit.

David Cox, managing director of ARLA, said 'Despite reports that the housing market is spiralling out of control post-Brexit, our results paint a very different picture, and indicate that the future is bright for the rental market.'

'While we obviously need new houses to balance the growing gap between supply and demand, what's positive is that the situation isn't worsening as a direct result of June's Brexit result.'