27 October 2016

Brexit: Is now a good time to buy and sell?

Brexit: Is now a good time to buy and sell?

Brexit: Is now a good time to buy and sell? Following the surprise result of June’s EU referendum shockwaves were sent through the UK economy and even before the vote took place the number of buyers and sellers in York slowed down as many people waited to see what the outcome would be.

Some commentators predicted that there would be a significant impact on the housing market, with many predicting that property would rise in price and many others saying that it would fall.

However, according to Rightmove’s monthly house price index report, the housing market has remained relatively steady when compared with the same period in previous years – something that we have witnessed here at Hudson Moody.

While there was an obvious slow down in the run up to the election and for a time after the result as it was unexpected, activity has resumed as normal.

We suspect this is as people realise that the process of leaving the EU could take much longer than expected and that the possible implications may take years to come through.

York remains a very popular location to live.

It is one of the best connected, culturally rich cities in the UK with plenty of job opportunities and great educational facilities so even during the last recession it remained a popular place to move to.

While it may be too early to tell exactly what the long term future will be for the UK housing market, One thing we do know is that York continues to be a highly sought after location and for many buyers and sellers it’s business as usual.

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