Thank Heavens for Brexit!
Thanks to Brexit, London is now officially a Buyers Market once again.
A recent poll of experts has shown that not even a good Brexit deal will stop the London property market from normalising. The Reuters survey shows that the London market is set to fall 1.8% this year, and a further 0.3% in 2019, whether or not the UK is hard Brexit, or even if a deal is made or not.
In the last 20 years, property prices in the capital have more than tripled, and because of this it has been a safe place for foreign investors to harbour. Since the 2016 vote to leave the EU though, the demand and turnover has dwindled. Plus, sharp increases in stamp duty and land tax have stifled volumes, which is also holding back prices. Shares in major housebuilders are down, and a well known estate agency also warns that the number of affordable houses could fall by a whole quarter.
But as historians will tell you, London is resilient. And the same Reuters poll above also found that house prices are predicted to rise again in 2020 by an estimated 1.5%. What does this mean? It means that buying London property right now is the ultimate hedge against Brexit, whatever happens, deal or no deal.
Because of this temporary retrograde lull, many buyers are choosing NOW as the time to strike. In fact folks wishing to sell before Christmas have literally slashed the prices to attract the buyers. A recent several bedroom abode in Mayfair was cut by a full £5M recently and the transaction completed. So there are indeed bargains to be found.
In other words, London is a Buyers Market right now. This time, like all times of opportunity, is merely a window and will pass soon. So if you have been considering making a London purchase, the time to act is also right now.
Finding a property is an enormously time consuming task, and most buyers also have other occupations and vocations.
Enter The Buying Agents, Mayfair. Not only do they know already where the best deals are, but they know about them before they hit the open market, which certainly gives you the edge, and also protects you from industry malpractice e.g. gazumping. On top of this, they have so much experience in the field that they have become ace negotiators. Indeed, much of their fee to you comes directly from the money they save you from the negotiation. All of these factors save you time, stress and money in the long run.
And don’t take it from us. Straight from the horses mouth:
Henry Sherwood, MD of The Buying Agents says:
‘We are regularly given privileged first viewing of new instructions ensuring you see the finest property first as there are an increasing number of discreet sales that never make it onto the open market. A private network of industry contacts also means that you get to see everything available. As a result, there is no stone unturned.
Successfully acquiring the best property takes time and dedicated resources; it is a full time job. With us working hard for you, you can access every agent with just one, easy point of contact.
Our discreet approach also therefore means that your identity is not part of the negotiations or the headlines.’
And so to recap.
Every cloud has a silver lining, and this may very well be yours. As an asset class, bricks and mortar rarely goes astray for long, and when you add London’s proven resilience into the mix, this makes any lasting downside highly unlikely.
Now, given that using The Buying Agents you will be likely to purchase at the Brexit rate, far below market value …….. well ……. we’ll leave the conclusion to you!
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The Buying Agents can be found at: https://www.thebuyingagents.com/
Thanks, Sierra Kilo PR, part of the SKS Media Group
Exclusively for The Buying Agents, Mayfair, London