As the March 29th 2019 deadline for Brexit approaches at a startling rate, home owners in the area have been asking how the housing market is reacting and, specifically, what leaving the EU will do to the value of property in the New Year.
As the leading independent estate agent in Beaconsfield we love it when people come to ask our expert opinions and views. We take our responsibility in these matters very seriously.
We’ve all become somewhat accustomed to the uncertainty of Brexit over the last year or more. Across the country the property, currency and stock markets have held their collective breath but our area continues to outperform the national average.
With all the doom and gloom surrounding Brexit we thought we’d read around the subject and see if there are any positive forecasts out there… we didn’t have to look very far.
The reality of the matter is that the housing market is not nearly as volatile as the other markets we have mentioned. Currency and the stock market react to small fluctuations in the political environment; the property market is far more robust.
Houses will always be a good investment, through good times and bad – sometimes you have to be patient and wait out tumultuous times but in the end it comes good. And, while the current situation is affecting the confidence of domestic buyers, it is actually attracting a lot of foreign investment as they benefit from the current exchange rate. It is most attractive to people who are dealing with US Dollars which is particularly strong against the British Pound at the moment.
This influx is likely to continue until the March Brexit deadline, once this is passed it is likely that the British Pound will start to recover and the deals will dry up. We are unlikely to see a full-on market crash but we will see a dip in activity and house prices as many buyers look to hunker down and wait out the Brexit transition period.
So while leaving the EU may perpetuate this period of uncertainty, there will always be room to buy and sell property – particularly in regions with a robust history like ours. Central London is likely to see the brunt of any dip, which is to be expected in an area that has had astronomical growth in the last decade.
Get in Touch
Remember, if you are contemplating a move in the New Year, whether you are looking to cash in on your property or move to the area, make sure you speak to a member of our expert team. You can give us a call on 01494 680018 or email us. You can find properties for sale in Beaconsfield on our website and follow us on Facebook, Twitter, Instagram and LinkedIn for all the latest updates.
Image credit: Melinda Nagy