How do you summarise a year when it has been as crazy as it has. Growing demand, low interest rates, stamp duty introduction, tax changes, more buy to let bank lending scrutiny, media messages vilifying the buy to let landlord, letting agent fees proposed to be abolished, banks making house builders lives difficult and of course Brexit. The list could go on but what a year!
Throughout this turbulent year of change our business has been incredibly strong and we have had an exceptional year of growth. This growth has predominantly been down to the demand from the buy to let investor. Our services have been in demand and our reputation has gone from strength to strength. Referrals have ‘gone through the roof’ with new buyers and new developers coming to us by direct recommendation of existing clients. No business can ask for a lot more!
There has been more demand from the ex-pat market, mostly from the far east and the Northern Powerhouse has continued to appeal to investors from the south of England.
Land demand and our activity in the land market has grown with land sales in West and South Yorkshire, Nottinghamshire and Lincolnshire.
It has also been encouraging to see our consultancy side of the business be in increasing demand. Consultancy work has always been part of our working life and demand has varied but 2016 has been a big year on this front. Advising estate agents, student housing, house builders and even a recruitment company on property, procedures, training, social media and much more. We have contracts in place for our time well into 2017.
What does 2017 hold for the UK buy to let property market? The signs are good, solid and stable. The economy is such where interest rates are unlikely to change and if they do it will be very marginal, the property market continues to be the backbone of much of the economy, the government is committed to support and invest in the property market and tenant demand continues to increase by the day. Trends are changing and the buy to let property market is vital to the rental market, the overall property market and of course produces better long term returns in the form of growth and income than probably any other easily accessible investment market.
2017 will be exciting, challenging and rewarded for all those involved in the buy to let property market so feel free to talk to us. We are an informed friendly team and are always happy to help.
We wish you all a Merry Christmas and here’s to a happy, healthy and prosperous 2017.