Brexit & The Yorkshire Dales Property Market!

Added on June 24th, 2016 in The Hoppers Blog

Brian Carlisle. J R Hopper & Co. Relocation Agent Network specialist for the Yorkshire Dales.

Keep calm and carry on!! The country has made a momentous decision that will affect our future for generations to come, but life must still go on in a positive day to day basis. This country and the Yorkshire Dales will, as it always has done, pull together and get us through tricky times.

House buyers and home movers should think in the same way. House buying is a decision for a period of many years. If you want to own your own home it is for life, or at least until you want to move up, downsize or relocate in 10 or 20 years’ time. If you are retiring to the Yorkshire Dales it is because you want to, and intend to stay there for the next 10-20 years. If you are moving here for a Life Change, again it’s for the long-term. If you are buying a 2nd home to use for family holidays or to let out for investment, then people will always want to visit our beautiful Dales. Brexit might even make holidays in the Dales more affordable for both Brits and Overseas visitors. People will always get older, marry, start families, occasionally split up, retire, downsize, and want to visit or live in the Yorkshire Dales, regardless of being in or out of Europe!

The demand for housing is still increasing, whether to buy or rent, and that will not change by any slight reduction in immigration. So rents will continue to rise, making the decision to buy, if you can, still very attractive to many people.

Buyers

So if you are buying a house now, when you come to move again, it will still be worth more than what you are paying now.

If buyers have a good mortgage offer, on a good fixed rate, they should grab that with both hands and proceed. Your Mortgage Company, like the Bank of England has done with banks, has already checked that you can ride a period of uncertainty before offering you that mortgage. If you wait and see, it may be more difficult, or the offer may not be as good in the months to come.
Cash buyers, and investor buyers, make now a great time to buy. Your investment over the long term will be much more secure than shares or other equities and bonds, in terms of returns from Rents, and long term value. Bricks and mortar will still be there in 10 or 20 years’ time! Now is a great time to make offers on a property and snap up a bargain from motivated sellers who want to move on with their lives too!!

Sellers

If you are selling a house, our advice is again to be positive, rational and calm. Look at all reasonable proceedable offers, and on the basis of those, make offers on the house you wish to buy. Your agent will love to help with this. Look at the cost of moving, the difference between buying and selling, not the actual size of the offer in relation to what you paid or thought or hoped your house might be worth. Now is not the time for flatly rejecting proceedable offers, or asking inflated asking prices, without thought for your onward move.

Talk to your Estate agent, Solicitor, and financial adviser. They will all have seen tricky times of uncertainty in the recent past, and will help you get through them, and into the home and lifestyle you want, to enjoy the future in Great Britain and the Yorkshire Dales!!