Property Prices Post BREXIT
After an interesting few weeks the property sales market seems to be as buoyant as ever with many agents seeing a dramatic increase in instructions post referendum.
The period leading up to the referendum has been quiet for sales and lettings instructions. Lettings instructions still remain low for the period.
Solicitors have also generally reported lower than average conveyancing fall outs since the referendum. Demand is definitely out-stripping supply, apart from at the upper end of the sales and lettings market where there are few buyers or tenants.
Property auctions have been the only variable, with Strettons auction yesterday 11th July 40% failing to sell and 8% being withdrawn. Those that sold generally sold for around the guide price. One property I had advised a client upon sold for 60% over the guide price! Auctions are still the place to find bargains Nationwide, but regionally it is getting increasingly difficult in the Surrey area.