Everywhere you turn you see Brexit. Every newspaper you pick up is talking about Brexit and even when you tune into the radio, Brexit is mentioned. Is it just us or is this becoming more and more confusing?
As an estate agency in modern day times, we respect that politics can play an important part in every day life. We also appreciate that Stamp Duty is discussed by politicians in the House of Commons and then adjusted during the most recent budget.
Politics is key to everything we do but how has Brexit affected the property market to date?
If any estate agency said that Brexit hasn’t affected them then they would not be telling the truth. The one key issue we have noticed is that whenever there is a General Election or maybe some uncertainty in the UK, it affects the property market.
People are fearful of the unknown. Many investment buyers have decided to hold on temporarily until they know more about their position. Foreign investors are in limbo waiting for ‘something’ to happen.
Someone recently commented to say that ‘people still need to live somewhere’ so Brexit will (is likely to) happen but still will still look to buy and/or rent properties. This also means that sellers and landlords are benefitting from this as well.
It is easier now for First Time Buyers to get on the property ladder than it has been in the last few years. The lenders appear to be more willing to lend and if you are looking at a new home, the Help To Buy scheme (launched by the Government in 2013) is proving to be very popular.
We have seen a level of uncertainty that is naturally frustrating, but we are still busy as ever. We are still selling and letting properties, but we also appreciate that our market is different to other areas in the UK. In the capital, the market is flooded with property that is on the market and not selling.
Getting the valuation figures correct from the outset is still at the forefront of our marketing strategy. We firmly believe that if the property is priced right from the outset, you will receive enough interest which could result in a sale or let.
So, we respect that Brexit is a hot topic and has affected the market but we are focusing, one day at a time, in providing the first class service that you and your property deserves.