Whether you voted to leave or remain, there is no doubt that the results of the recent EU referendum has cast a shadow of uncertainty over many aspects of British life, including the property market, but this does not mean that it would be the right move to put off selling your home or buying the property that you desire.
The undue delay could mean that you’re missing out on the prime property season and, possibly, opportunities to buy your ideal home or sell at the best possible price.
Of course, we understand that the idea of Brexit is unsettling for some people, but we want to reassure all of our clients, the past, present, and future, that we always make it our business to keep up to date with current market conditions and events in the wider world, and we will continue to do so to ensure we can always offer the most helpful and accurate advice and information.
In Leicester, we are proud of our very strong domestic property market, meaning that we are not under the shadow of the threat of European investor “pull-outs” in the same way as other cities such as London. A recent round-table meeting held in the city placed a focus on the referendum, and estate agents from around the Leicester area reported that the provinces had not been unduly affected by pre-vote jitters in the same way as the English capital. In fact, most claimed that Brexit had not presented itself as an issue for the vast majority of buyers and investors.
Looking to the future, many experts believe that Leicester, and the county of Leicestershire as a whole, is likely to be in a prime position due to its diverse business mix, which has long focused on cultivating relationships with global trade partners and not just those operating within Europe.
In terms of investment, property is one of the safest options when other markets are being affected by turbulence. Investors are known to prefer reliable income assets such as property during times of uncertainty.
Looking at both capital gains and rental income, Britain’s residential market has not experienced any negative total returns over any five-year periods since 1973, demonstrating its appeal to investors. Even amidst the global financial crisis, our property prices performed better than the FTSE All-Share Index.
Even if some choose not to sell during this period this, in itself, offers some great opportunities for others who can take advantage of the reduced supply when it comes to attracting buyers. Looking to the future, the fundamentals will not change either – namely, that people will always need somewhere to live!
To find out how Keywest can help you to achieve the best results when buying or selling property in Leicester, get in touch with the team today, call 01162544555.
