Residential Market returns to normal
Two weeks have now elapsed since the public decided the UK will leave the European Union and although some shares and finance markets remain uncertain confidence is returning to the housing market.
We are continuing to put houses onto the market and we are continuing to sell them reports Andrew Oulsnam, Director of leading estate agents Robert Oulsnam and Company in Birmingham and Worcestershire.
This message is repeated across much of the country by many estate agents, solicitors and mortgage brokers. Mortgage finance is readily available and relatively cheap and as long as there are a similar number of buyers and sellers house prices will stay the same.
It seems the public have decided a decision has been made, let’s get on with our lives and if they want to move home, move home they will.
Much has been made in the media of how badly shares and funds in builders and commercial property are doing, but if you are an investor and are advised values will drop you will want to get you money out even if the reality is far from this.
The public can see property values are not falling and are happy therefore to carry on purchasing.