What’s this? A positive article on the state of the property market? As a slight change of pace from the well-reported doom and gloom of the last few months, it is looking like the national property market has started to perk up in spite of Brexit. But is it all good news?
According to the RightMove House Price Index, newly marketed properties increased by an average of 0.9% in April which is consistent with the same level of growth at this time of year for the last two years. This is great news for vendors and buyers as it seems that very few people are showing the kind of Brexit uncertainty we have been seeing for the last couple of years.
While our area hasn’t necessarily seen the kind of price increases that we have seen in Wales and the Midlands, we have been seeing steady activity in the market. House prices in the Welsh and Midland regions have hit record highs, prompting many people to come to market. As we all know, activity breeds activity and we have started to see more people making enquiries about selling and buying in the area.
While things may seem considerably brighter than we are used to, we took a look at our economy guru’s latest report. Roger Martin-Fagg has a long history of accurate economic predictions. His latest economy update on the Property Academy website is anything but cheery. While there does remain some reason to be optimistic it’s not all great news.
Martin-Fagg suggests that while there are regions within the UK that have shown unexpected growth over the last couple of months, property in the South has shown a small dip. He doesn’t think that this is down to Brexit but more likely a well-overdue price correction.
It is no secret that property in London and the South/South East has been highly priced and it is likely we’ll see average house prices continue to fall until they meet rising incomes. For families and the average homeowner, this is unlikely to cause any problem, but it may catch out the leveraged investor looking to flip a property.
We often bring you less than optimistic news about the property market; however, we are extremely lucky in that our area tends to dodge any negative national and regional trends. With the variety of property and the demand for homes in our area so high, prices stay very steady, with only minor fluctuations and certainly not the peaks and troughs you see in the Capital.
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If you would like to speak to a member of our team about your property options or anything in this article, you can give us a call on 01494 680018 or email us. You can also find properties for sale in Beaconsfield on our website and follow us on Facebook, Twitter, Instagram and LinkedIn for all the latest updates.