Update: 1st of July / Results are in from the EU referendum – Brexit it is!
Another day, another doom mongering announcement from one side the other about the British In or Out referendum.
What are you going to do come the 23rd of June 2016? The general consensus amongst many landlords is to take the chance to leave the European Union and vote Brexit.
From a informal poll we ran amongst our landlord and investor group, 60% of landlords will be voting to leave the European Union, with 30% on the Remain side with another 10% undecided.
None of the above reflect what we at NW Homebuyers will be voting for or against, but we thought we’d let our clients know that there is a tendency amongst most landlords to want to leave.
Whichever way you vote, remember to actually turn up and vote. Our only input into this debate is to ignore the fluff, scaremongering from both sides and take all the hyperbole with a pinch of salt. We’ll find out in the morning after whether we are Europeans or not!
The short and most honest answer is: We have absolutely no idea!
A more thoughtful answer would be to say that in the event of an ‘In’ result, then we don’t think there will be any negative movements and could be a positive result for housebuilding companies in the UK.
Should we opt to go with ‘Out’ and leave the European Union, then the immediate effect may be visible. The reason behind this that uncertainty of any kind gives the market a wobble, whether that is property or stocks. Uncertainty of any kind doesn’t pacify the markets and there is no denying that in the immediate aftermath of an Out result isn’t going to be good for property investors in the UK.
What it might do for speculators and those that play arbitrage is a different question. If you have the liquidity to play the markets, then there could be some strong gains to be made. Conversely, there will be some strong losers too in such an uncertain and unstable market!