Brexit Market Update by Stacey Churchward

After attending a Brexit seminar last week, I definitely have more knowledge, and feel more confident discussing the subject than I did before.

As with Brexit itself, there are lots of mixed opinions on the subject and a lot of uncertainty and most importantly for us the big question is what’s going to happen to the property market?

The first thing we addressed at the seminar was the reaction from the press. We went through headlines in popular newspapers and came across journalists who didn’t have a clue in regards to what’s going to happen to the property market, they were just assuming and in many cases, writing sensationalist headlines with no substance behind them.

The headlines went from one extreme to the other; everything from ‘property prices will plummet’ to ‘prices due to increase by 20%’ in nearly all cases with no facts or evidence to back them up. The main thing people need to realise is nine times out of ten these journalists are just scare mongering.

So this is my reason for writing my blog today; to ensure people get the right information and know the truth with what’s happening currently in the property market. This information is based on reports from local estate agents and the people who have really seen the true impact on the property market.

WHATS HAPPENED FOR THE SALES MARKET SINCE WE LEFT THE EU:

• Since the referendum house prices in Sales have remained stable
• Buyers looking for property are still actively searching at the same volume as before
• Viewings are still at an all time high
• Vendors still looking to sell, we ourselves this month alone have taken on 20 new properties
• Mortgage rates are at the lowest they have ever been.

WHATS HAPPENED FOR THE RENTAL MARKET SINCE WE LEFT THE EU:

• An increase in enquires from perspective tenants
• Landlords looking at the market place as a great time to LET
• We have LET a high volume of properties on since Brexit
• Overall the lettings market hasn’t changed since Brexit.