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EU VOTE NOT IMPACTING ON MIDLAND PROPERTY MARKET

EU VOTE NOT IMPACTING ON MIDLAND PROPERTY MARKET

PRESS RELEASE: 25/04/16

EU VOTE NOT IMPACTING ON MIDLAND PROPERTY MARKET

Business as usual according to leading estate agents

IN, OUT or undecided, the Midland housing market isn’t being affected by the looming EU referendum.

Situ Homes – the property portal bringing estate agents from across the Midlands together – is reporting no slow-down in sales and enquiries.

And while any period of uncertainty typically cools the market in the short term agents say the EU vote isn’t currently being discussed as a potential issue by vendors or purchasers.

The Directors of Situ Homes – with a combined 130 years of experience in the property industry between them – say while the future is uncertain, it’s no time for scaremongering.

“Of course we don’t know what will happen when Britain goes to the polls on June 23rd – or what the impact of a ‘Brexit’ would be. That would depend on what happens in the wider economy, how quickly and successfully the UK can negotiate new trading agreements after a vote for an exit,” John Ozwell, Chairman of Hunters Group Ltd with and a Director of Situ Homes said.

“Funding markets may be unsettled, which would affect the cost of borrowing and interest rates could rise if the currency continued to fall, but all of this could be very short-lived. In terms of immigration, it’s unlikely that borders controls would be changed immediately after a vote to leave. Then there’s the argument that release from EU regulations would lead to stronger economic growth in the UK, which would be good news for the housing market.”

“We don’t know what is going to happen, whichever way the vote goes,” Philip Jackson, Director of Birmingham agents Maguire Jackson and also a Director of Situ Homes, added.

“What we do know is that at the moment, the EU referendum is not an issue buyers or sellers are talking about, it really is business as usual. Birmingham and the wider Midlands are the place to invest at the moment as buyers move away from London property – and we don’t see any signs of that changing. ”

John Payne, Director of Payne Associates and of Situ Homes, agrees:

“Uncertainty isn’t good for any market – but neither is scaremongering. There have been many times we’ve heard ‘the end of the property market as we know it’ predicted; yet here we are and in a market that’s very strong, especially here in the Midlands.”

Situ is a property portal for the Midlands bringing the biggest names in local housing market together to offer a huge choice of homes to buy or rent across some of the most sought after locations in the region.

Situ acts as a voice of the Midland market, with 27 offices across Warwickshire, Worcestershire, Staffordshire and the West Midlands.

 

NOTES TO EDITORS:

Situ is run by the leaders of five major estate agents in the Midlands:

 

The idea is to act as the voice for the Midlands market – and to offer a dedicated Midlands property portal.

Together as Situ Homes, they offer a huge choice of homes to buy or rent across some of the most sought after locations in the Midlands. They have 27 estate agency offices all located in prominent locations across the region offering owners who wish to sell their home quickly a more powerful selling force than any other estate agent locally. The company is a network of associated offices belonging to Hunters, Oulsnams, Maguire Jackson, Payne Associates and Knight & Rennie.

The directors of Situ have between them some 130 years of experience as experts in property in the Midlands.

Please go to www.situhomes.com for more.

FOR FURTHER INFORMATION:

Contact Clare Fitzsimmons at Park Lane Public Relations Ltd – 01789 488701, 07836 293848, clare@parklanepr.co.uk

 

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