So, what is happening? The media appear to be as confused as the vendors and buyers out there, and even the agents are feeding us conflicting reports.
In truth it is still difficult to predict the effect that ‘Brexit’ will have, and this has been exacerbated by the traditionally quiet summer period immediately following the results.
However, with lower interest rates, foreign investment interest buoyed by the weaker pound as well as some pent up demand from buyers waiting to see what the effect of the new stamp duty rates as well as the referendum results would have, we are already experiencing a busy Autumn.
The good reputable estate agents have, where possible, managed their vendors’ expectations well and those vendors who have listened have achieved shorter times between placing their property on the market and receiving offers, whereas other properties have been hanging around on the market since before the referendum.
In a market such as this we could not emphasize more, the importance of using a buying agent who has a proven track record of experience and success in the more difficult markets – using our advice and unparalleled knowledge is essential to ensuring you are buying at the right price, as well as enlisting a professional to guide you through what is currently a challenging market.
There are some great opportunities out there at the moment but you need to have your (or our) wits about you to buy well.
If you would like to discuss our services and how we can be of assistance please do not hesitate to call or email us.
2020 Sara Ransom of Stacks Property Search says, “Buyer behaviour in London has shown several distinctive changes during the course of 2020. “There’s been a big surge in demand for swimming pools, from large basement pools, to tiny organic-looking plunge pools in small back gardens. Architects have been overrun with holiday-in-your-back-garden demand. “Required...
After the pause, will the property market be on rewind or fast forward? After many weeks of sitting in our homes, and with a ray of light in sight, Stacks London asks what on earth the property market will do. Up until the end of March, the property market was in full...
As the heat in the sun recedes in London, will the reverse be true for the London property market? As the heat in the sun recedes in London, will the reverse be true for the London property market? With so many factors up in the air, even before adding the ‘B’ word...
Uncertainty breeds Opportunities With the continued political uncertainty still holding its grip on the Prime Central London market, there is a general feeling amongst agents and buying agents alike that the pent-up demand will soon bubble over. A lack of stock as vendors hold on to their properties until April, alongside buyer...
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