Brexit and what it means for Brighton homes

 

Stay or Leave, it was the big question we all had to answer last week and although not everyone is happy with result, there’s no need to worry when it comes to staying or leaving your own home.

There are a few points that I would like to address to help ease your worries. The market will be affected differently in every area of the country but in the South East, and particularly in Brighton & Hove, we have a very robust property market. This was put to the test back in 2008 and property prices by and large remained unaffected and we believe that it will be no different this time.

In regards to the ‘predicted drop in price’; this also is unlikely to happen. What the media mean to say is that there will be a fall in house price rises, in other words, prices won’t increase at the same rate. According to a prediction from the National Association of Estate Agents, by 2018 the average house price will be £300,800, instead of £303,000 should we have remained – the average house price currently being £277,600 and of course, this is all relative as the home you buy will have been affected in the same way.

The Bank of England has taken measures to secure the financial stability of the markets and confidence is already starting to creep back in The City. In turn, interest rates are set to remain low meaning competitive mortgages can still be secured. Finally, the consensus among buyers is that they would rather move now than wait until Brexit has been resolved. To demonstrate this, last weekend we held two open days which resulted in more than 30 viewings and three offers.

The key thing to consider if you’re thinking about moving is not whether to do it, but how to do it right. Inevitably, in a time of uncertainty, the market is likely to be slower than in headier times so the most important thing is to ensure your home stands out. This is where we come in; our approach to marketing is to ensure your home stands head and shoulders above its competitors. If you would like to meet with one of our directors to discuss what can be done to show off your home in the best light call us on 01273 622664 or email [email protected]

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