Brexit.... now what?
Published: 27/06/2016 By Mitch Moth - Lettings New Business Manager
The Nation has spoken and now as we look to the future we ask ourselves, ‘What does this mean for the property market?’. Within hours of Friday morning’s announcement we had numerous people ask our opinion on where the market will go. For us as a business and for all UK Homeowners this really is the million dollar question.
The hard truth is that we don’t have a crystal ball, so it’s difficult to say conclusively. Even the most respected economic analysts aren’t sure of what is next for us. What we can say with conviction however is that there is still a tremendous appetite for property in the UK, a shortage of property to meet that demand and encouraging words emanating from the Bank of England.
People will always need to move. The couple in the one bedroom starter home will have a child and they’ll need their next step up the ladder. That once young family will become a family of teenagers, each needing their own room and space. Children fly the nest and the parents will downsize or maybe they’ll move to the coast. There’s always a reason and need to move, and as such there’s always going to be a demand.
In the shorter term, many analysts are predicting that we could see prices adjusting and this may well be the case, but this shouldn’t necessarily be seen as a bad thing. Any correction in the market is always relative; your home may sell for less, but so will the property you are purchasing.
The whole Brexit saga will undoubtedly fold out in the coming days but looking positively, the outlook could be complimentary to the market as a whole.
What happens next ultimately remains to be seen, but we at Hamilton Chess will remain positive throughout. If you’d like to talk to us about your home and your situation, then we’d be very pleased to come and see you. Give us a call on 01753 624 000 or get in touch with us at firstname.lastname@example.org