Morden Autumn 2016 Housing Market - Post Brexit Vote

31st October 2016
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It has been an unpredictable  year in property market but the autumn has been as busy as we experience an upturn in the market with families searching for homes to be in before Christmas.

While the annual visit from Santa Claus is only six weeks away, completions before then are going to be close but at Turners our experience means we are very used to keeping chains going and seeing transactions proceed smoothly. Additionally, we regularly advise vendors and purchasers to use local Solicitors meaning that rather than chasing large ‘conveyancing firms’ and faceless corporate agents we deal on a personal level with more immediate action.

Of course the key questions on everyone’s lips was how will Brexit affect property prices and you might wonder why I have left it until the third paragraph to deal with the elephant in the room!

The answer is, ‘not a lot really.’ The vote happened in the summer, a traditionally quiet time for property sales. This did for a time see house prices stall, but overall people have taken a positive view of the future.

With rents increasing and mortgage rates at an all time low, the local property market is as buoyant as ever.

However, there has been a slight shift from sellers market to a buyers market and the days of sealed bids and ever-higher offers are not such a given. Sellers need to recognise this and price their property accordingly. What does that mean? At Turners we believe in pricing property to get you the best price from the best buyer. This may not mean the highest price, but it does mean your property will not languish on websites and in estate agents windows while your neighbours reap the rewards of their successful, smooth and swift sale!

 

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