Nova News Editorial July 2017
There is one thing you can be sure of at present; there is a considerable amount of uncertainty around. What with Brexit negotiations having just started, how will they pan out? The slender majority of a minority Government will surely be tested to the limits by the opposition over the coming weeks. It may be that even before you read this article some three weeks after I have written it that a new election has already been called (probably unlikely). The stock market does not appear to have been too concerned about the state of the Government. Uncertainty usually sends shock waves through the markets yet they presently stand at almost record highs. I read one article in a newspaper, which suggested it is highly unlikely that the markets will fall dramatically. Investors want to put their money into investments with good yields and good growth prospects.
Uncertainty may have hit the property market in respect of potential sellers being reluctant to market their homes. There are signs that after a short period of time with limited new instructions of established homes coming on to the market there are a few more homes becoming available. Due to the limited amount of stock, which was already at a low level, agents are reporting strong demand and a high level of interest in those properties, which are on the market. Good sized four bedroomed family homes are still in short supply and generally selling well. If this current spell of hot weather continues there may be fewer vendors inclined to move house and there is usually a reduction in the amount of property being marketed at this time of year as many people are away on their annual holidays. This can be, as I have said previously, a good time for sellers as there is less competition and with a limited supply of housing stock your chances of selling should be improved.
If we encounter the certainty of another General Election then doubts about the housing market and economy in general will intensify again and this could quieten the market. None of us know at this point how things will work out. If you are thinking about selling I see no reason why you should delay marketing as there are plenty of prospective buyers out there. The limited amount of housing stock available is unlikely to increase significantly over the next few months.
Enjoy the summer.
If you need assistance on any property related matter contact me on 07507 928008 or email. I look forward to speaking with you.