With all the uncertainty driven by an ever-increasingly unresolved solution to the UK’s withdrawal from the European Union, it helps to know what this means for the housing market - particularly in your area. Whatever the overall trend throughout the UK might be, this does not mean that you should expect the same, or similar, activity whether you are buying or selling in the Westcountry. So Westcountry Homes Online have written a comprehensive, but brief and reader-friendly, outline of the state of the UK housing market in the wake of a Brexit that seems less certain now than it did two years ago.
Property website Rightmove has reported that the uncertain political climate has slowed down the traditionally busier spring period for 2019, with average asking prices falling by 0.8% throughout the UK. Prices in London saw the largest decrease and the capital has been hit with the worst effects of this slowed buying activity. However, spokesman Miles Shipside said that there is greater resilience to this slowdown the further outside of London you get, where “there’s a sound bedrock of demand for the right property at the right price, reinforced by ongoing housing needs combined with cheap mortgage borrowing”.
Importantly, despite this political uncertainty, Rightmove states that their search activity has remained steady which suggests that those looking to buy are still on the lookout for their future home in the hope of a more certain political climate.
For those living in the Westcountry, house prices within the region have actually seen an increase of almost 1% in the past year, and having had an incredibly busy first few months of 2019 we are confident that the current political climate is having little impact on property demand in the Westcountry.
WHO thinks that according to the above and with the success we are enjoying right now, it’s business as usual.