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The general election and property prices…

July 3rd 2017
By: Melanie
The general election and property prices…

According to some reports the results of the general election mean more price turmoil for the housing market. Since the vote to leave the European Union last year house prices have been somewhat subdued compared to previous years, but in most part especially in the South East where demand remains high have been continuing to rise but at slightly slower levels than has been seen previously.

Richard Durrant Managing Director of Intercounty commented: “Since the hung parliament buyers and sellers have still been continuing to come into the market and we haven’t seen any slow down in volume of transactions at any of our branches.

“In many instances that there has been a certain amount of price leveling. In previous years properties have often gone to market with an optimistic price, however in today’s market the challenge is encouraging sellers to be more realistic about price so that we can generate as much interest as possible. We are finding that houses that are priced correctly tend to sell faster, whereas in contrast those sellers who insist on a higher price than recommended often have properties that hang around on the market. The inherent problem with the latter is a property can then stagnate and then appear to have an even lower market value than it would have been if they had put it on at the correct price in the first instance, which often results in a seller not achieving a sale or having to reduce the price even more,” he added.

If you are thinking about selling a property why not pop into your local branch of Intercounty for a chat and a coffee or call our team on 01279 655243.