Brexit vs. Sales market
I am going to stick my neck out here and say that the present housing market is just about perfect for buyers and sellers alike.
Since the recent delay of Brexit, buyer confidence has undoubtedly returned. When I compare this quarters applicant registration numbers vs. the last quarter, they are up by roughly 300% and this is reflected in our sales numbers. This tells me that those who were patiently waiting to “see what happened post-Brexit”, have got fed up waiting as there was a real need to move, hence my opening remark.
Come the backend of 2019, as the deadline draws close again, we are likely to see the same lack of confidence return and buyers / sellers will again wait for an outcome.
The truth of the matter is, despite Mark Carney’s comments about the UK housing market, we have not really seen a substantial decrease in local house prices and I suspect that post-Brexit (if it ever happens) there is as much chance of house prices increasing as they are decreasing and based on the evidence since the initial vote in 2016 house prices have not really changed and buyers / sellers are understanding this now which is why I feel people are getting on with their lives!
Food for thought huh?