Richard Blake Header
Well, here we are a couple of weeks post Brexit and we are all holding our breath. Although there is almost certainly going to be a shock to the market it is likely to be short lived. We have been receiving offers and achieving sales on a regular basis since the referendum. In particular, there has been strong demand for coastal homes with further potential for developement or refurbishment. With one property, we had to ask for best and final offers - such was the demand.
On another two similar properties, the asking price was achieved. So there is certainly the demand for local homes when priced correctly. Our main concern is our usual refrain about the lack of supply of fresh properties coming to the market.
As a firm, we are seeing very low levels of stock although our sale levels remain very high. The consequence is a hand to mouth existence. I would encourage all those who have put off moving to take the step. Life goes on despite all the uncertainties.
Talking of uncertainties, the Bank of England have done a good job of injecting some confidence to the markets from the first days of Brexit and helping to reverse the initial losses on the stock markets.
Positivity is now what we all need and yesterday we heard that we will have a new Prime Minister within days which will take away another layer of uncertainty.
As I write this article there are strong rumours of an interest rate cut to help boost further the general economy. Long term mortgage rates have also been falling.
So the message is, let’s get on with it, be positive and make this situation work for us all.
Fist published By The Dart magazine August 2016 issue
