Autumn Update – Life After Brexit
Since our last market update, shortly after Brexit, we’ve seen the summer months slow down. A Brexit phenomenon? No probably the same Summer lull we’ve all experienced for many years.
Yes, a number of properties were withdrawn from the market, as vendor saw no light ahead in achieving their desired price, and many of the buyers retracted from their search in nervousness. However, we were then left with a concentration of willing and able buyers and sellers; so the summer has been a positive selling period.
It would appear, and a number of major clients concur, that we are over any market stutter we have just encountered. With lending so competitively low, new motivated buyers registering daily and an influx of properties coming to the market we are confident that its business as usual.
It would be remiss of us to not offer some words of caution as the upper end of the market continues to have a slightly shorter supply of willing and able buyers. However, those who are searching are motivated to buy; and their lack of commitment is more product based than price. We simply don’t have the product or quality of property they require.
Therefore, the outlook is for a stable housing market this autumn and sustainable price growth in the City and surrounding areas into next year and beyond.