Brexit - The Property Market A Month On
Jul 22, 2016
We are now a month on from Brexit and although we last reported buyer trends a week out from the referendum, today we are able to give you insight into trading conditions and buyer thinking a full month on from that defining referendum decision.
It very much appear that on the house sales front buyers have remained very positive and this is supported by some key indicators of the buyer confidence.
One important key indicator is the fact that new sales agreed across all of our branches show an average of 99% of the guide price being negotiated in the last three weeks, compared to 97.6% of the guide price being negotiated during the first week post Brexit. This in part is due to vendors taking a more realistic view of their pricing strategy, which resulted in a good sales arranged result across town and country property sales.
Concerns of an immediate and catastrophic downturn in the property market have been massively overblown and the remainder of 2016 looks positive for house buyers and sellers alike.
John Holden - Chairman and Managing Director