Rightmove monthly asking price trend

So where does the result of the Referendum leave the local property market?

To some of us the result may have been a surprise, but now we have to move on and deal with everyday life, including buying and selling property.

"House prices will do what they have always done and follow the laws of supply and demand" - Darren Moore, Managing Director
I have been asked by many people how I think the outcome will affect the property market in and around Crawley. Ultimately I don't have the answer, just an educated opinion based on experience of over 20 years in the industry. My opinion is that it will be business as usual, as long as you are looked after by an estate agent who knows how a tighter market works.
"The fundamentals of the UK property markets remain as does the strength of the Nation's finances" Simon Hills, Mortgage Advisor
At Moore and Partners it may not surprise you to know that we all take a very positive view on the latest developments that affect all of us.
"I have not had any phone calls from clients wanting to pull out. 5 exchanges are already planned for this morning too, so no jitters. The Government will sort things, the dust always settles" James Bickerstaff, Partner
If you are considering or trying to sell at the moment please don't be fooled by agents who, because of the lack of supply, over price your property to secure your signature. Supply and demand is one thing, over pricing is very different and will cause a blockage of those properties that are coming to the market. The interesting thing is that over the last quarter we have not seen any dramatic increase in property prices, in fact we have seen a greater increase in the amount of price reductions. Of late I have seen more and more property 'sticking' on the market due to agents over valuing. This month alone has seen Moore & Partners sell in excess of £4million worth of property without any having to be reduced in price. The reason for that is that we do not over value property, nor do we sell property for a price that our clients aren't expecting.
"Whatever happens to property prices I am absolutely certain that people are not going to give up living in them and that there are not enough to go around. Any falls will recover" Chris Penfold, Senior Partner
Prices appear to have peaked at their current record highs which will be a good thing in the current climate, although relative, and will allow the market to settle naturally whether we are in Europe or not. Our message is a simple and positive one: If you are thinking of selling or buying please do not be put off by any negative media articles about the housing market. As long as you are realistic with your selling price things will be fine. There are still a large number of quality/proceedable buyers out there ready and willing to buy their next home. If you are considering putting your property to the market or changing your current agent please do give us a call and we'd be delighted to discuss your options with you, without obligation or cost.

Chris Penfold, Senior Partner, Moore & Partners

Published on 01 July 2016