Brexit hasn’t had much of an effect on the Cardiff property market, according to Elliott Hooper-Nash who was speaking at Jeffrey Ross’ summer breakfast briefing this week.
Around 80 private landlords and property developers were invited to the SSE stadium for a croissant and a coffee and to gain an insight into the local property market and learn about changes in property legislation and tax.
Jeffrey Ross Estate Agents hold such briefings twice a year and invite some of its network of landlords to allow them to learn about legislative and regulatory changes which may affect their portfolios.
Head of Sales at Jeffrey Ross, Elliott Hooper-Nash, started the event with a briefing about the current state of the Cardiff market, where low stock levels of available houses mean that they are selling fast. He also said that the new homes coming to Pontprennau and Radyr, as well as the proposed M4 relief roads, will all have a positive effect on the local property market.
Graeme Monce from Hamilton Bond then gave a talk about insurance and emphasised the need for property developers and landlord to think about protection before price when it comes to insurance, so they don’t end up out of pocket should the worst happen.
Next to speak was Liz Ganderton of Geldards solicitors, who gave the attendees a briefing on the new Minimum Energy Efficiency Standards and the fact that from April 2018 it is unlawful to let out a property with an energy level below E. This applies to new lettings and renewals from 2018, but from April 2020 it will apply to all lets.
Broomfield and Alexander’s Leighton Reed was next up, briefing the attendees on the tax implications of being a landlord. Leighton went through the recent changes the government has made to the tax around lettings to try and drop demand in the buy to let market, including changes to stamp duty and changes to tax relief on mortgages for landlords.
Jeffrey Ross Estate Agents was pleased with the quality of speakers and the amount of people who attended and is looking forward to inviting more along to its next event.
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