Inside Or Out? - Nova News Editorial June 2016

Decided or undecided, is it going to be better for us, in the long term, to remain in the EU or to leave. I don’t think I have heard a campaigner yet who has been able, or perhaps more accurately, prepared, to give the true facts about how things will be whichever way we decide. Scaremongering and worry tactics are all we seem to get, it is all down to their opinions, as it will be to ours.

There is no doubt that the current situation surrounding the referendum on June 23rd is leading to a lot of uncertainty and that is not, generally, a good thing for the economy, and ultimately, the property market. I heard one comment in the past few days saying that prices would fall between 10 and 18 percent if we vote out. How do they know? Well they don’t, nor do any of us.

Uncertainty leads to a lack of commitment, if you are unsure about certain aspects of a particular property you will, quite probably, decide not to buy it. There was certainly no uncertainty from the Newport agents in the April and May issues of the Nova. Everyone was very buoyant about the state of the market, yet over the past two to three weeks I have spoken to several agents in Newport and further afield and there appears to be a slowing down in the levels of interest on the sales front, there certainly seems to be a reduction of new instructions for established homes. I am sure that much of this is down to the referendum; hopefully it will only be a short term blip. There will always be buyers around, especially in Newport and the surrounding schools catchment area, so don’t be put off marketing your home. The less competition there is the greater the chance of selling but be mindful of the need to get your price and presentation right, these two factors are critical in selling.

From a personal perspective April and May have been busy months. I have undertaken a wide range of jobs, including: Land measurement, floor plans, residential and land valuations for sale and purchase, commercial rental assessments, Land Registry compliant plan preparation, negotiations on behalf of prospective property buyers and Probate valuations. I offer this varied range of services, and many other property related tasks to the general public, Estate Agents and conveyancing solicitors.

If I can be of any assistance to you with any property related matters please get in touch. In the meantime whichever way you feel about the EU make your vote count in the referendum.

Andrew Mason FNAEA

Call me on 07507 928008. You can also follow me on twitter @Andyvalues1551.