The Fireworks of Brexit
The Landlord Investment Show 2019 finale had over 5000 registered attendees, and seminars with standing room only. The turbulence of Brexit and the announcement of a general election obviously added some spark, but what was the story on the ground?
The Fireworks of Brexit panel debate featuring:
Chair:
Andrew Neil, Publisher and Broadcaster
Panelists:
Rt Hon Iain Duncan Smith MP, Former Conservative Party Leader.
David Smith, Economics Editor of The Sunday Times and PropertyNotify Columnist.
Gavin Fraser, MD, High Street Residential.
Tony Gimple, Founder, Less Tax 4 Landlords.
The Fireworks of Brexit
The first thing we need to do here is set out the stall. This is being written on the day before the general election, so any opinions won’t be in the public domain until after the result. The opinions stated are also those of the panel experts at the November 5th Show at Olympia London. They do not constitute investment advice from the speakers of Landlord Investor Magazine. They are, after all, just opinions. Disclaimers out off the way, let’s take a deeper look at the debate.
The subject matter and timing was bound to draw a good audience and the auditorium was packed. Every seat was taken. Late arrivers found themselves standing wherever they could and we had to close the doors as the theatre reached capacity. A timely reminder that arriving early at LIS panel debates is essential if you’d like the luxury of a seat.
The panel opened by examining how Brexit has fragmented party politics: with a Tory majority ensuring the UK leaves the EU and a Labour party majority almost certainly resulting in remaining. However, as far as the buy-to-let market is concerned, this constitutes somewhat of a red herring. The issue we desperately wanted to hear about was is the economic impact and how, specifically, it will impact buy-to-let landlords and the private rented sector.
It was general consensus that major changes in domestic policy cause hiccups in the property world, and the perception Brexit will have no impact is incorrect, given vast swathes of UK property is underpinned by foreign capital. The smooth flow of capital in and out of the UK is fundamental and that the uncertainty is already causing the market to slow, with negative financial impact as investors frustrated by the indecision look for alternative territories in which to invest. Given the UK has been viewed internationally as a safe bet for property investment this obviously causes some concerns.
The big question was how will a change to a Labour Government or a hung parliament impact the private rented universe. Even a cursory glance at the manifestos of the two major political parties will tell you that the Conservative Party would be considerably more favourable to Landlords. This was supported unanimously by the views of the panel with the conclusion that a Labour government or hung parliament will, at the very least, cause further resistance in a market which is already slowing, Again it was highlighted that the indecision over Brexit is the biggest threat to economic stability and the sooner this can be resolved the better.
By the time this is published we'll know the election result. Even if there is a change in government it will likely take some time for the effects to be felt in the market.
This really is just the smallest of highlights, you can watch the whole debate and draw your own conclusions here: www.landlordinvestmentshow.co.uk/videos
5000 hungry landlords
Although the Brexit debate stole most of the media coverage, the whole November show was a huge success, with 5000 registered attendees, over 100 exhibitors and 40+ seminars. This is our biggest show and attendance to date. Olympia London was positively buzzing with landlords and investors eager to soak up the vast quantities of knowledge and expertise on offer.
The image gallery offers a snapshot of the day, and all the show videos to date can be viewed here.
The 2020 show calendar kicks-off again with a return to Olympia London on March 19th. Click here to view the full 2020 calendar and register for your free show tickets.