Thu 17 Jan 2019
It’s the question on everyone’s lips, what’s the housing market going to do over the next 6 months with Brexit looming at the end of March?
It’s a difficult call, as so many parts of the UK vary in terms of activity levels, supply, buyer demand and other local economic factors. The Midlands has generally bucked the trend with both greater activity and modest price rises in some areas.Phil Sandbach – Director at John German says “We had a very strong last quarter of 2018 with record sales in a number of locations in December. Whilst buyer activity had been stronger in previous January's, the signs are encouraging.” He goes on to say “For us it is business as usual, people are still going to move based on life circumstances, hopes and aspirations, the one certainty we have is the low interest rates, high rates of employment.
Midlands' housing market expectations for 2019Buyer and seller confidence is likely to stay much the same and it isn’t just Brexit that could alter the housing market, it’s just as likely that a change in the Chinese or USA economy could alter confidence in the Midlands market.”
Aidan Reed – Director at John German concludes “It is unlikely that house prices will see any significant leap in 2019 and that we will have a stable settled year, which is good news for buyers and sellers particularly if they are buying and selling within the same market place”. He adds “it’s also encouraging that there are more first time buyers entering the market in the East and West Midlands.”
The UK had a very similar situation with a deadline date similar to that of Brexit in the year 2000. Many predicted that as we turned into the millennium, there would be Armageddon with our IT infrastructure falling apart. There were years of doubt and worry but as it happens, as we turned into January 2000 it was business as usual, and people carried on with their normal lives. Considering moving home, get in touch with your nearest John German branch for further advice.
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