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3<br />
What would a no-deal Brexit<br />
mean for the property market?<br />
The official Brexit deadline is roughly eight weeks away. And yet the terms of the UK’s departure<br />
from the EU remain unfixed - an issue that was compounded when a vast majority of MPs<br />
rejected Theresa May’s withdrawal plans.<br />
to rise by nearly 15% from 2019 to 2023, with significant increases expected in the<br />
Midlands and the North West.<br />
While 2018 proved to be a challenging, and sometimes tumultuous time for the<br />
Government, speculation that investors would lose confidence in real estate proved<br />
largely unfounded. According to Halifax’s House Price Index, the average price of UK<br />
houses increased by 1.3% last year – while the rate of growth is slowing, the market<br />
has demonstrated its resilience during a testing period.<br />
Given the proven resilience of UK property, Brexit, in whatever form it may take, is<br />
unlikely to shake investor appetite for bricks and mortar in the long-term. With house<br />
prices set to rise, consistently high demand and the rise of regional property hotspots,<br />
the real estate market looks set to overcome the initial challenges that will be posed by<br />
Brexit.<br />
The current state of political deadlock means that come 29 March 2019, the<br />
prospect of a no-deal – a scenario originally touted as a last resort – is a<br />
growing possibility.<br />
For many years, the UK has been considered a safe haven for property investors,<br />
with demand from both domestic and international buyers driving prices and rental<br />
yields upwards. This, in turn, has fuelled investment into new-build developments<br />
and infrastructure improvements both in London and regional hotspots like Liverpool,<br />
Cardiff and Luton.<br />
Encouragingly, despite Brexit uncertainty, the long-term outlook for the real estate<br />
sector remains positive; according to Savills, house prices in Britain are predicted<br />
to be moved in order to carry out the task, and in the process you can go through a<br />
diplomatic de-cluttering and de-personalising process without appearing callous.<br />
Be careful to distinguish between clutter and emotional-clutter. Be tolerant of<br />
the latter, but try to contain it, and move items that are very personal to the previous<br />
marriage to your partner’s personal space, or at least contain it so it’s not everywhere<br />
you look.<br />
If your new partner is divorced, kid gloves are less necessary. After offering the<br />
ex first refusal on the clutter, build a big bonfire in the garden and encourage your<br />
partner to fuel it with as many old joint possessions as possible!<br />
Singles<br />
It’s so difficult for young singles to get on the housing ladder that there’s an<br />
increasing trend for couples at an early stage in their relationships to buy together.<br />
While it can make good financial sense, there are additional considerations to be<br />
taken on board. It doesn’t sound romantic, but it’s sensible to talk about things that<br />
might not usually be brought up at this stage in a relationship, running all potential<br />
scenarios through in conversation. However strong a relationship is, it’s vital to<br />
consider what would happen in the event of a break up as you won’t be covered by<br />
the matrimonial laws that protect married homeowners. Buying a property together<br />
is a huge commitment to each other and there needs to be a high level of maturity<br />
involved in the decision.<br />
A good solicitor is crucial. I would strongly recommend a specialist conveyancing<br />
solicitor, and to choose one who can guarantee consistent contact with the same<br />
person. In addition to all the usual documents, they should draw up a ‘declaration of<br />
trust’ for both parties to sign that sets out the detail of who has contributed what, and<br />
what happens in the event one or both of you wish to sell.<br />
Stacks <strong>Property</strong> Search & Acquisition, www.stacks.co.uk<br />
www.thepropertydrop.co.uk<br />
01600 717255<br />
info@thepropertydrop.co.uk<br />
Whilst every care is taken with materials submitted to The <strong>Property</strong> <strong>Drop</strong> the publisher cannot accept responsibility for loss<br />
or damage to such materials. Opinions expressed in articles are strictly those of the authors. This publication is copyright<br />
bedroom<br />
and may not be reproduced in any form without written permission from the publishers. Prices and details are subject to<br />
change and the publisher can take no responsibility for omissions or errors. The inclusion of an advertiser in this paper is not<br />
necessarily a recommendation. ©The <strong>Property</strong> <strong>Drop</strong> 2019.<br />
bathroom<br />
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Number bathroom of<br />
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living room central etc heating<br />
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central heating<br />
garage/covered parking<br />
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bedroom<br />
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reception<br />
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Number of<br />
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ELECTRIC<br />
Method of<br />
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