Brexit
& The Sheffield Property Market
It’s the hottest topic on
everyone’s lips and whilst we’re all keeping our opinions on Brexit to
ourselves at Spencers, we have found that valuation appointments have slowed in
the last few weeks. Meanwhile we have many buyers
who are desperate to find something to buy so we're seeing multiple viewings on
properties which are in turn going to best & final offers and achieving
over the realistic asking price.
Whatever your thoughts as to
whether we remain in the EU or we leave, Sheffield is a very different kettle
of fish to London, certainly in our experience. We are not finding foreign
investors are coming to Sheffield and making vendors put in ‘Brexit clauses’
into the contracts or that a ‘Brexit pledge’ is necessary to tie up a sale,
which is what the London market is finding. At
Spencers our buyers are first time buyers, families,
and downsizing movers who are led by catchment
areas, changes in their own circumstances, growing families, and the need to release funds upon
retirement.
In the last month we've seen
properties in S6, S7, S8, S10 and S11 at asking prices from £150,000 to
£450,000 all go to best & final offers within two weeks of marketing, all agreed for over the asking prices. That tells
us that, on the whole, from a buyers point of view,
the Brexit doesn't factor in people’s decision
to buy and that the Sheffield housing market is not affected by the referendum.
If anything, the predicted changes in
catchment areas and intakes in local schools are what’s driving our sales, but
that’s a different story!
So if you're waiting for the result
before you look to market your house consider first who your buyers will be,
watch what is selling in your area and how quickly. You might just be surprised
by how much you can achieve!
If you're still not convinced and
are looking for a short term solution while you wait for the result and the
ripple effect of it, then perhaps renting your property out is a better option.
Invariably we receive multiple applications on everything from one bed
apartments to five bed detached farmhouses in the South West of Sheffield. That
way you're not tied to a sale of your home but can make the move you're wanting
to make with a guaranteed income for 6 or 12 months.
Please call our friendly team of
Sales & Rentals staff to book a free valuation of your property and discuss
what we've sold & let recently in your area. We'd love to have a cuppa
& a chat!
www.spencersestateagents.co.uk
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