London Market Comment Autumn 2016

As we enter into the traditionally busy Autumn market, we are experiencing high levels of enquiries from UK residents looking to buy their first or next home in London, as well as overseas investors enjoying the weaker pound to seize an opportunity.

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.

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