By Michael Candelori from Philadelphia (Donald Trump Rally 10/21/16) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

 

Trump

 

When we woke up to the news that Trump has won the US election we also woke up to yet another divide in society. Similarly to the split in British politics following Brexit, this split in the US will have an impact on us here in the UK. Market analysts have predicted that the controversy of the new president-elect will attract an influx of buyers from the US who will be drawn to London as a result of Trump's policies. With Trump's outspoken comments about Muslims, buyers from the Middle East for example may chose the UK over US which will ultimately contribute to London's housing market.

In January Trump will begin to exercise more power and we get more clarity. Former chairman of the Royal Institute of Chartered Surveyors, Jeremy Leaf has said the following of the relationship between recent politics, sterling and the FTSE: "At the very least it looks like we will have fewer transactions, tighter lending criteria, less house building and higher rents - which is exactly the opposite of what we're looking for at the moment".

 

 

 

 

Post Brexit Vote

 

According to Benham & Reeves, Landlords have generally kept their rational hat on and haven't made hasty decisions to sell their properties following the British vote to leave the EU. The research has also indicated that Landlords haven't tried to increase rental prices despite the growing housing supply. The Benham & Reeves director stated "If you look at most of the Heat Map, rents have stayed the same over the past quarter. We're in a period of uncertainty and fortunately, our landlords are listening to our advice when we tell them not to be greedy and simply value the tenants they have."

 

 

Published on 01 December 2016

Source Wonderlease

Written by Marc Cohen

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