Property Market Update

With the referendum now behind, us we can start to assess how the local market is reacting to the result and start to get a "feel" for general property market conditions.

It is worth mentioning here that if we are comparing activity to last year, we were in a post-election period, where the retail sector was in general terms experiencing a "boost" given the new certainty that a new government brings. It is therefore not surprising to see a dip in sales activity, in particular during the week of the referendum vote.

Since that time we have seen the stock market recover to a place higher than pre the referendum, interest rates still remarkably low and whilst the £ has suffered, this has fuelled other export businesses and indeed given some overseas buyers the incentive to buy in the UK. From a local perspective it was pleasing to see that the Telegraph recently reported that the West Country property market may see even more buyers as it becomes more attractive to buy here that abroad!

Overall we still see very similar conditions to last year, plenty of demand and still very cheap money! As long as we see confidence we, like many commentators believe that the UK housing market is robust and we expect similar house sale activity in this year to last - prices to the best part static, although we all know if there is a shortage in new properties coming to market, prices can creep up!

For many it is more about the price differential between what one buys and what one sells! As long as the difference is affordable, properties will continue to be bought and sold. If you are un-certain about the prospects of buying the right home - speak to us, we will get you out viewing to hopefully demonstrate that there are plenty of homes available, even if one needs to compromise.

TOP TIP

If you are considering what to buy make yourself a list of 10 features that are important to you and your partner/ family - from this highlight the 4 things that you will not compromise on, this helps you to REALLY understand what is important!