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London Property News 2016

Buy House Fast Birmingham

London Property News 2016

London Property News 2016

We here at Home House Buyers have an always kept a keen eye on the property market. With post-Brexit blue and Christmas looming we look into how the sell house fast London market is performing.

As the world teeters on the decision of the next US presidential election the housing market seems to have seen better days.  House Prices have seen better days with parts of London being classed as the most affordable places to live.

For those looking to sell house fast London they may be in for a long haul as the gifted deposit scheme (otherwise known the help to buy scheme) is due to end on the 31st of December. This will no doubt slow the market down by reducing the number of potential buyers out there. One other thing happening to the property market is the change to the buy to let market due to hit in April 2017.  The change due to take place is likely to rock the BTL market as you will no longer be able to offset the cost of your mortgage. Currently, you can, which makes building a BTL portfolio and attractive concept. So what effect is this likely to have, I hear you ask? Well, we here at Home House Buyers feel that the aim of to try and reduce the amount of buy to let properties out there. Many landlords are choosing to offload their stock, which seems to be creating an overcrowded market. When the market is overcrowded we see that prices tend to come down. It forces competition and people tend to reduce they value of their property to increase footfall.

With the pound performing terribly and the interest rates at an all time low the market seems to be grinding to a halt. What does all this mean for those looking to sell house fast London? No great for those looking to sell. Rental prices are at an all-time high in the capital and this is stopping people from being able to afford to save up a deposit. Currently, the average price of a property in London is a staggering £481000. So my the majority of the first-time buyer are expected to stump up with just under £150000 whilst renting. It’s not all doom and gloom mind, as the rental prices have dropped to an average of £1280 per month for  a property.

With the UK trying to leave the common market, the house prices are becoming more and unstable. House prices were expected to increase by up to 7% however experts are saying that it’s likely that house prices will fall in 2017. Saville’s are predicting a 16% decrease by 2018.

Lucian Cook of Savills said: “A realisation that Brexit feeds into the wider economy, people’s prospects for earnings, people’s prospects for employment and then that beginning to filter through into the hard economic reality … is likely to make buyers more cautious,”

So what is likely to happen with yesterday’s news that the UK’s decision to leave the common market has been halted? Although initial signs are positive (with the pound climbing). Our prediction is that it will be likely to just stall the markets even further. Once the news the Brexit hit we saw an immediate slump in the confidence of buyers. So will history repeat itself? Are the markets going to take a further knock with this news? We think so. The feedback we got from the open market post-Brexit was that the confidence just wasn’t there for people to be putting forward offers. This was even more so in London where the House prices are at their highest.

So if you are sat on the open market looking for a sell house fast London service, then what are your options. You could choose to sit and ride out the market and see what happens with the UK decides to trigger article 50. If you are after something a quicker then don’t hesitate to call a member of our sell house fast London team for a free no obligation cash offer. Our sell house fast team, can offer you a cash price for your property that will allow you to complete in as little of 14 days.

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