One of the biggest concerns for buyers and sellers is the challenge of the recent changes in the UK, notably the vote to leave the EU and the recent political climate. Tim Simpkins Intercounty’s Area Sales Director gives us his view on the current, local property market.
“ It’s true that there has been much change in the UK since last June when we voted to leave the EU. However we have not seen any decline in the amount of transactions at Intercounty. Rightmove’s latest House Price Index figures shows there was a year on year increase of 1.8%, with the second highest number of sales agreed in May for 10 years. We feel that this is because vendors are becoming more realistic about their properties asking price, along with continued demand from buyers to purchase properties listed at the correct market price.
Buyers moving out of London continue to push up property prices in the East of England, house prices rose by 0.6% between May and June 2017 and by 3.8% year on year,” he added.
“It would seem that the marketplace is becoming more balanced in terms of favouring towards buyers or sellers, with political uncertainty causing some buyers to adopt a wait and see approach, however lack of buyer choice and the continued draw of home ownership seems to continue to drive the market in counterbalance. Our advice to our sellers for the next period is to listen carefully to the market and the advice of your local property professional. The buyers are still there and will continue to be, for correctly priced properties.”
If you are thinking about selling your property or have a property for sale and would like some advice why not pop into your local branch of Intercounty or call our team on 01279 655 243.