As the 29th of March comes closer and closer and politicians still seem unable to agree on a Brexit deal, it might at first glance not seem like the perfect moment to put your house on the market. However, industry professionals disagree and argue that this could actually be a really good time to sell your home or buy a property.
Aston Knowles’ director and RICS surveyor and registered valuer Sophie Bullock says that 2018 was a difficult year for the housing market, with its hard winter passing into a hot summer and followed by the uncertainty surrounding Brexit. This meant that buyers stepped back from the market and decided to sit tight as Christmas approached.
Yet, while delaying putting your property on the market or waiting to see what happens after Brexit before buying a new home might seem like the safest or smartest option, this is not necessarily the case. As Caroline Edwads, partner at Carter Jonas estate agency in Suffolk says in an interview with Alexandra Goss, “some people have been waiting to buy for months, if not years, and simply want to get on with their lives”. Burrell, of Capital Economics, adds to this that buyers should not feel that they have to delay their purchase for fear of a market collapse, as the situation is in no way dangerous enough to warrant such an action.
It has been over two years since Brexit came into existence and it is simply not worth it to put your life on hold if you do truly want to sell or buy. Lindsay Cuthill, head of Savill’s country department mentions a lady who was delaying the sale of her £1.25m house in Fulham and was simply “fed up with Brexit” and just wanted “to get on with it”.
Sophie Bullock agrees that buyers seem to have decided to “move on” regardless and she says that 2019 has seen an unpredicted busy start that seems to be pushing through into spring, particularly in respect of new listings. Sophie also states that once Brexit negotiations are finalised “there is no doubt that confidence will be sensitive to whatever the outcome might be”.
Especially in the West Midlands it might be worth forgoing your Brexit fears and “getting on with it” as this is the fastest growing market and homes typically sell here in only 57 days. Sophie adds that “the confidence in the West Midlands housing market is due to the re-development of Birmingham city centre and Perry Bar as we welcome the Commonwealth Games in 2020 and HS2 to the area”.
So, if you have a desirable property in a popular and sought-after area, now could be a perfect time to put your property out on the market.
If you would like more information or if you would like to enquire with our experienced team about putting your property on the market or to start looking for your dream house now, please contact our office. We have someone available to speak to clients every day between 8am and 8pm!
Inspired by ‘Everything you need to know about Brexit and house prices’ by Alexandra Goss, the deputy editor of The Sunday Times Home section and property staff journalist of the year.