Brexit doesn't have to be a cause for panic
YOU HAVEN’T BEEN able to turn on a TV, tune into a radio station, open a newspaper or even have a chat with a stranger in a pub without Brexit rearing its ugly head and taking over the topic of conversation. Unfortunately it’s everywhere and despite us having over two years since the referendum to sort things out and exit the EU, parliament seems no closer to solving this conundrum.
We spend every day speaking to customers about how Brexit is affecting the market and the truth is, despite all the uncertainty, the housing market is performing well at the moment. No doubt it’s a challenging time and nothing like it was 10-15 years ago during the boom, but there are plenty of buyers out there, the financial market is steady with interest rates still at a historically low rate of just 0.75%, and if houses are priced realistically, they are selling well. Brexit doesn’t seem to be putting buyers off – instead, it’s sellers that seem to be hesitating. Therefore, a lack of availability is the biggest challenge we face at the moment: many of my clients are reluctant to get their own house on the market due to them not having anywhere else to move to.
We have been selling houses for over 23 years and have learnt in that time that you have to often take stats with a pinch of salt. However when we first started selling houses in 1996, it was common then to take over a year to sell a property with an agent typically having around 25% of their available stock either under offer or sold. Just after the recession, it was taking 6 months on average to sell with most agents struggling to get above 20% yet we are currnetly selling property on average within a 8-9 week period and have over 50% of our stock currently sold STC. These current stats don’t sound too bad, do they?
So our advice is, if you want to move then don’t let Westminster put you off. Do your research and speak to one of our property experts to see what they have to say. They will know better than anyone what effect Brexit is having on your local housing market, and be able to provide you with a realistic valuation of your home. Call us today for a FREE, no obligation market appraisal today.
Posted on: 17 April 2019