If there is one thing I can be sure of, it’s that nearly everyone I meet has an opinion on Brexit; especially one of being fed up with the whole situation!
As estate agents, we have all obviously been keeping a sharp eye out for declining property values and stagnation in the housing market. Back in April of this year, online property portal, ‘Rightmove’ reported the average price of properties ‘new-to-the-market’ had increased by an average 1.1% – this is the largest month on month increase since March 2018; the average house price for March 2019 dropped to £233,131, however, this was a secure 3.2% higher than March of last year.
Although we would expect prices to increase a little at this time of year, such an increase for the month of April has not been seen since before the Brexit referendum results. This shows us that UK homeowners appear to be losing their caution regarding selling their homes; perhaps clients no longer want to feel life is on hold while the political climate continues to ebb and flow between resolution and absolute chaos?
The report also found that 3 and 4 bed family homes, (excluding detached) are the most stable on the market for holding their value and are demanding asking prices 0.7% higher than last year at this time. The most probable reason for this trend is that these types of home are the vital next stage housing for growing families- this is the section of the market that can only sit tight and ride out the property market fluctuations for a limited time- these are the families that need to access more space, more bedrooms, and locate school catchment areas- their need to get on with life supersedes the static nature of EU negotiations.
So, what can we do to ensure we build businesses, and provide services to our clients, that will stand the trials of uncertainty? Fortunately, the Hunters franchise model puts us at the forefront of success in the market place; our training academy, marketing team, and economy of scale online portals fees purchasing power being just a few of the ways we can continue to deliver high quality results for our clients.