Brexit has caused massive uncertainty amongst investors while they wait to see what happens. Therefore property demand is lower than in previous years.
Section 24 – Many Landlords are now exiting the market due to the new section 24 implications and how we are taxed. Since being introduced in it is being phased over 4 years. This essentially means being a high rate tax payer or a buy to let landlord, you will be subject to paying a lot more tax over the next few years.
So what does this mean for me..???
Property prices have been increasing for the last 10 years…however…
If prices do drop and hit complete rock bottom this means they can only go up!!!
If your buying for the long term this could be a significant investment, providing you buy in the correct area with a strong rental demand.
If your buying to flip, renovate and sell on – then you need to be careful as it might well be worth less in six or twelve months time.
Whilst it’s not a perfect time to sell it’s essentially a great time to buy.
To summarise, huge uncertainty equates to huge opportunity…
Contact Hyde & Rowe today and see how we can assist with the impact of Section 24, and enquire with us on how we can help you double your income.
Call (020) 8686 1799