Brexit & The Housing Market
It’s been a considerable amount of time since the UK voted to leave the European Union, and there have been a number of other factors that have had a much bigger impact on the housing market.
Despite this though, Brexit is still something to consider when selling your home, and, perhaps more importantly, finding the right time to do so.
Brexit & House Prices
The EU Referendum didn’t initially have a huge impact on house prices across the UK. Generally they continued to rise, but generally a little slower than previously. The global pandemic throughout 2020 had a much bigger say in the market, but as we get nearer and nearer to the end of the Brexit transition period on December 31, 2020, that may change slightly.
However, it is believed any changes in property price will only be temporary and overall prices will always increase due to the lack of supply and the ever-increasing demand of homes, Brexit or not.
Supply vs Demand
Many experts are certain that pre and post Brexit the housing market will continue to be a case of supply and demand.
Many people looking to buy are taking one of two directions. The first one being to buy way ahead of Brexit, in the hope that they will get a better price than when Brexit comes into full flow, while others are holding out to see what happens in the market post the transition period. What that is ultimately doing is still creating a steady flow of demand and in turn keeping house prices where they should be.
What is clear is that uncertain times are ahead when the transition period does end, and while forecasters have been generally quite positive about the housing market, nobody had quite forecast a pandemic to be running alongside it.
This means that we’re all somewhat in the dark about how the market may behave in the short-term come December 31.
There are options though. Of course, in the long run it is likely that the market will pick up and prices will rise, making it a good time to sell once again. However, if you need to sell, it could be tricky.
Here at Fast Cash Property, we’ll buy property for cash and can make you an offer quickly and complete a sale at a time to suit you. So no matter how Brexit affects the housing market over the next few months and years, you’ll always have a buyer in us.
We offer a range of services and guide you through the entire process. There’s no chain and no delays, and what’s more you won’t have to pay any fees and our expert team will do all the hard work so you don’t have to.
If you’re struggling to sell your home because of Brexit, or for whatever other reason, get in touch today and we’ll talk you through the entire process and get the buying process started today!