Over the past few months I’ve been asked quite frequently, what is going to happen to house prices after Brexit? Should I be moving now?
The answer is, nobody can be sure on prices, but considering the amount of uncertainty it has caused, the current market is performing well.
Since the Brexit referendum result in June 2017, we’ve seen a functioning housing market, although not necessarily a buoyant one, houses are selling although we would prefer more transactions.
The number of available properties across the region is lower than two years ago, which has been good for sellers. The demand for property has continued at levels pre-referendum, which has kept values high due to the supply/demand ratio.
Due to the change in supply, family housing (3-5 bedroom properties) has increased in value, although prices have fallen in the lower priced area of the market, as this is mainly investment buying.
Information from the Office of National Statistics shows house prices since July 2017 have increased other than the traditional autumn/ winter months when there is generally lower activity.
The other question of should I consider selling now, I believe is up to the individual. Prices have not been greatly affected and demand is there should you want to sell.
Estate Agency for me has always been about advising our clients on what is best for them at the time. How the market is for their property type, the urgency of the move or maybe what price they need in order to achieve their objective.
So whatever you’re selling from family homes to smaller properties suitable to investors or first time buyers, we can help find a buyer and get you moving.