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8 Apr

Posted By: David Florence 8th April

April 2017 - Brexit

 

 

 

Now that Article 50 has finally been triggered, I have my own thoughts on how the property market will respond (more on that later) but I also wanted to do some research into what other experts thought would happen. Here’s what I found:

 

The market will stabilise – now that the process for leaving the EU has officially commenced, the housing market should stabilise.
Sales will increase – the property market is closely correlated with confidence in the economy and, with Article 50 officially triggered, the government has finally shown that the decision to leave the EU cannot be derailed.
Price growth will be slow – despite the expectation before the Brexit vote that house prices would crash, it’s now clear that theory was way off mark. Growth has continued, albeit at a slower rate than previous years. This will continue, with variations depending on the outcome of EU negotiations particularly in relation to jobs and trade.
Demand remains high – despite everything, demand will remain high particularly in the south west of the UK.

Rent will remain high – again, due to demand, rental prices will stay high.

 

It’ll be interesting to watch over the new weeks as we enter a busy listing period, but I foresee little effect in the BA14 region. The demand for houses in the area is high, and the amount of properties available does not match the demand. Therefore, if you’re looking to sell now is prime time to get your house up-to-scratch 

 

David, Georgia and Grayson

 

 

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