S: Ted, all I’ve been hearing for what feels like years, is this word ‘Brexit’ and it’s really starting to raise my hackles.
S: Because whenever someone says it, I think they’re saying ‘Biscuit’ and it leads to my ultimate disappointment.
T: Much like actual Brexit then. I heard through the barking chain that since the humans voted to leave, all walkies are going to stop and there is going to be a dog food shortage.
S: Utter rubbish, where did you read that? Actually, I don’t want to know. Anyway, I think it’s going to be a good thing. Dan Betterton, the Build to Rent fund manager at Legal & General has said that even though people might not be making huge personal decisions like buying a house, they’re still going to need somewhere to live, which means the rental sector will probably benefit.
T: All well and good Smudge my friend, but ARLA’s Managing Director David Cox, has said that ‘if supply continues to dwindle against growing demand, no matter what the eventual implications of Brexit are, renting will become more difficult and expensive for tenants.’ So if the number of properties being put on the lettings market doesn’t increase in line with the number of people who want them, it could get a bit more expensive for tenants, and I don’t think they’ll be very happy with that.
S: Well there are figures to suggest that the London lettings market is thriving despite Brexit.
T: Yes, well, there are also warnings about the dangers of more properties being put on the lettings market than there are usually at this time of year.
S: Our very own human, Maxine, talked about this in her July roundup! We were there, snoozing on the sofa in the background, remember? Maybe you don’t, I’m sure I heard you snoring. She talked about there being a false spike in the number of rental properties available, after Landlords rushed through purchasing properties before the stamp duty surcharge was introduced by the last chancellor earlier in the year. The spike we’re seeing is as those properties are put on the market.
T: Ah. Well. So is Brexit a good thing or a bad thing? I’m more confused than when we started with all this conflicting information being put out by all these different people.
S: Don’t worry Ted, I’m sure nearly everyone’s confused, and do you know what that means?
S: That no-one really knows. Everything is really still only speculation, so it’s best to read as much or as little as you want to, and not to worry too much over individual things you read at this point. I’m with money man, Martin Lewis, we don’t want to create false panic. Walkies are not going to stop, and neither is the supply of dog food.
T: Phew! I can tell you one thing though Smudge, amongst all the not -knowing, one thing’s for certain. I want Larry the cat out of no. 10, I hate everything he stands for.