A new report by the Office for Budget Responsibility (OBR) has revealed house prices are expected to fall by 0.3pc in the fourth quarter of 2019 as Brexit begins to impact the property market.
The statistics were picked up by The Telegraph who wrote an article about the effects Brexit is having on the property market and most importantly, buyer confidence. Andrew Granger & Co director, Peter Buckingham was quoted in the article insisting that “sensibly priced” properties are still selling well with the market still active.
The consensus amongst us here at Andrew Granger & Co is that despite the political uncertainty surrounding the property market, too many sellers are persisting with unrealistic prices, forcing buyers out of the market.
It’s a fine line to walk; you want to maximise your property’s value without turning potential buyers away. But in the current market, it’s perhaps never been more important for sellers to value their property fairly in order to attract demand.
Unfortunately too many sellers are pricing their property far higher than expected, effectively subjecting themselves to months on end with little to no enquiries. The benefit for sellers determined to move house is that a realistic price will undercut stubborn sellers and attract demand.
A sensible house price is sure to gain trust from buyers, leading to them investing greater confidence in you and the property. Also, with plenty of interest, it may turn out that you receive multiple offers from potential buyers, sparking a bidding war and driving up your final value.
At Andrew Granger & Co, we have a team of experienced residential sales team that is able to carry out valuations throughout Leicestershire and Northamptonshire. Our expert team is able to advise you on a fair price that will generate interest without leaving you feeling like you could have got more for your property.
A positive for sellers in Leicestershire and the East Midlands is that the region has shown strong resilience to the slow national price growth seen over the past couple of years.
The East Midlands continues to stand out as a bright spot for house price growth, which is great news for sellers. In the final quarter of 2018, the region was England’s best performing in terms of having the highest percentage house price rise.
Analysts at HomeTrack also identified several East Midlands locations as showing the most promise in terms of growth value in 2019. Read more about how the East Midlands and Leicestershire properties are faring here.
If you are thinking of selling a property in 2019, please contact us for a no-obligation valuation where we will use our specialist local experience to value your property at a level that will both attract buyers and ensure you get the best possible price. Please get in touch with us today at one of our three locations:
Leicester 0116 242 9922
Loughborough 01509 235 534
Market Harborough 01858 431 315