Some of the questions we are being asked – and the answers we are giving:
Is now a good time to buy, or should I wait to see what happens….?
Now is an excellent time to buy, but you’ll have to look hard and be determined as there is a shortage of property on the market. But it’s a great time for decisive buyers, especially if you can negotiate a good deal. Some vendors are determined to make a sale before Brexit happens, so you may find yourself in a good position to negotiate.
What about interest rates and Stamp Duty? Can I expect any changes?
Current levels of Stamp Duty are, in our opinion, here to stay, so don’t hold your breath waiting for any improvements! As far as interest rates go, they are at an all time low, so there’s really only one way for them to change, and that’s up! While we don’t expect any dramatic rises in the short term, it’s sensible not to overstretch yourself, and to fix at a good rate if you can.
Is this a good time to sell?
There’s a shortage of stock in all sectors as many potential vendors are hanging on to see what happens next. But life can’t be put on hold for many, so if you need to move house, our advice would be to start the process. If you have a good property without any blight, you should find a good supply of potential buyers. We would recommend that selling and buying takes place in the same economic and political cycle so that you’re not exposed to price fluctuations.
Is now a good time to buy a holiday home?
The number of UK residents taking holidays at home is rising steadily – factors such as very weak Sterling, better summers, and uncertainty about the changing face of European travel are all very relevant. So a good investment in a holiday location at a time when prices are stable could turn out to be an excellent decision.
What about returning expats?
Sterling is cheap, so if you’re paid in Dollars, UK property looks very attractive. Jump in!
What will the effect of a ‘hard’ or ‘soft’ Brexit be on the market?
We don’t believe it will make any difference at all! All that is needed is a decision, and the market will become more active. Big fluctuations in price are unlikely.
Is this a good time to be a buy-to-let investor?
Yes, hunt for bargains, especially in the new-build sector which, unlike the rest of the market is oversupplied and bargains are available. We expect rents to continue to rise.