Brexit and beyond: challenges facing the property market

With just days to go before the UK was expected to leave the EU, we seem no closer to a solution than when Article 50 was triggered almost two years ago. It is little wonder therefore, that uncertainty is expected to continue to impact the housing market.

However, the second biggest challenge facing the housing market at present is the lack of properties available to buy, a factor that is viewed as more significant than affordability concerns.

Agents in the latest RICS UK Residential Market Survey report that new instructions fell again in February, with the average number of properties available to buy per agent, returning to a record low.

As the spring market gets underway, buyers will be hoping that potential vendors will be able to look beyond the current uncertainty and help to get the market moving again.

A seller’s market

Given the lack of housing stock at present, some may argue that it is actually a good time to put your home on the market. Despite current conditions there are always people who need to move home and uncertainty around Brexit has created a ‘supply and demand’ situation. Not as many homes are for sale as this time last year which means that properties that are listed for sale are seeing increased demand if they are correctly priced.

It’s more important than ever before to use a trusted estate agent

Managing Director, Brendan Cox, comments;

“We predict that buyers will be much more cautious in the months ahead. However, with a lower number of properties coming to market overall, demand for housing will remain. Buyers are seeing unchanging house prices as an opportunity to move.”

Why trust Waterfords with your property?

During a time of uncertainty, using an experienced estate agent with in-depth local and national property market knowledge is essential to sell your home successfully. See four good reasons to use Waterfords Estate Agents to sell your home in 2019:

Waterfords get you the best price. Waterfords are confident that homeowners will successfully sell over the coming months, but warn that overpricing your property will fail in a time when buyers are being cautious. With over two decades of property market knowledge, Waterfords have access to the most accurate pricing data, meaning your home is priced to sell.

Waterfords sell your home quickly.

With a range of packages, our award-winning property marketing and talented property consultants effectively market your home.

Waterfords provide outstanding customer service.

Almost 700 homeowners, landlords, buyers and tenants have rated Waterfords as the number 1 High Street Estate Agent in the areas we operate on Trustpilot. 

Waterfords are with you until completion.

The time between an offer being accepted and exchange can be a stressful time for both seller and buyer. Waterfords have created our very own in-house Sales Progression Team to take away the worry and minimise the chance of costly fall-through’s.

Whether you are planning a move or are just curious about the value of your property, we would love to hear from you. Our advice is free and without obligation. You can get an instant online property valuation by clicking here or alternatively call our friendly Customer Contact Centre on 01252 235348 to book an appointment.