Many wealthy investors who currently own property in the UK market plan to add to their portfolios, despite Brexit, a new study shows.

A survey of national and international high net worth individuals (HNWIs), defined as earning more than £100,000 per year, conducted in the UK, Dubai, Hong Kong and South Africa, found that Brexit is not a big issue for the vast majority of wealthy investors. In fact, almost a quarter (23%) actually identified Brexit as the catalyst for their investment.

To understand the mid to long-term view of UK property investment, Censuswide, on behalf of property developer SevenCapital, asked how strong wealthy investors believe the housing market will be in the next 18 months. It found that more than half (55%) think that the market will be good to very strong, rising to around two in three (64%) in three to five years’ time.

These are encouraging results for the UK property market, during a period of uncertainty and negative speculation over what Brexit will bring.

Andy Foote, the Director of SevenCapital, comments: “These figures demonstrate that people generally recognise that there are bigger factors to consider over Brexit when it comes to the overall trends in the UK property market. Realistically, it’s the fear and the perception of Brexit that will have any effect, rather than the physical act of leaving the EU.

“Ultimately, if the market were to take a dip after Brexit, seasoned investors will know that this would more likely be a catalyst for the inevitable swing back. The property market is a prime example of well-known cyclical patterns, growing through recovery and emerging stronger than previous peaks. In other words, if it takes a dip, as it did ten years ago, it will recover and come back stronger.”

He continues: “It’s also important to understand two other key factors. Firstly, the chronic undersupply means there is an ever-growing demand for homes in the UK – whether rented or owned – and that is not something that is going to change with Brexit.

“Secondly, property isn’t a quick purchase or investment, unless you are a flipper. If you’re looking to buy a home, the chances are you’re not going to be thinking about selling up again in less than five to ten years’ time, and, if you’re a property investor, you’re likely to be looking for long-term gains from it. Either way, and dip or no dip, the price of your property, providing you did your research properly before buying, is likely to appreciate in the long-run.”