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So What Do We Think Will Happen In The Property Market Next?

So What Do We Think Will Happen In The Property Market Next?

Paul often meets with ‘the best’ estate agents, property experts and economists to keep abreast of what is happening and trying to predict what will happen next…

Last week he met in London with a room full of ‘best’ estate agents, property portal analysts, economists and property experts. Paul likes to keep it simple.

‘Nationally we have enjoyed an annual 5% property price increase which has remained pretty stable. However, with the more recent property sales my feeling is that this will reduce to more like 3% over the coming 12 months. We have a healthy property market, certainly locally, at the moment and long may that continue. If you want to move home, whether you are upsizing or downsizing, then there is nothing to fear – decide to do it and choose the best agent to help you.

As we move into next year BREXIT will be an excuse for property not selling due to uncertainty. I have a simple answer to that; don’t take what you hear on the TV and radio and read on social media too seriously. Talk to your local property expert.

In all my thirty plus years in this industry there is always some excuse – if you are selling, buying, letting or renting then take advice from the people that know rather than the experts that you hear at work or on social media.

We have very low unemployment and the banks and building societies have the ability to lend, albeit sensibly which is fair – we are living in very comfortable times, so enjoy it.

And now first time buyers have the opportunity to buy a property up to £300,000 with no stamp duty!

With the ‘bank of Mum and Dad’ still very much part of the First Time Buyer method and the ‘help to buy’ scheme, that has now been extended, there is still plenty of opportunity to purchase a new home.

The inexperienced investors have virtually disappeared from the property market due to the stamp duty and tax changes – if I’m honest this isn’t a bad thing as this can only improve the way tenants are treated.

So for the next 12 months I think it is a healthy ‘business as usual’ – just make sure you get the best advice.

We often run Q and A sessions so feel free to ask if you are not sure about any property matter and I promise we will tell you what we honestly think.’

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If you are thinking of moving whether it be selling or letting and you would like to speak to somebody now, then pick up the phone to 01327 878926 or CLICK HERE and we’ll call you.

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