There has been a lot of uncertainty in the country since the recent referendum result. Scaremongers have suggested that the housing market faces an inevitable downturn.
Whilst the current climate may well lead to some wobbles in the short term, there is no firm evidence to indicate that prices will fall dramatically. The Governor of the Bank of England, Mervyn King, has himself described such talk as an “exaggeration”.
Potential purchasers may be wary of taking on a mortgage commitment while there are threats to some jobs, but it is pretty likely that prices will continue to rise, albeit at a slower pace.
This may, in fact, be a good thing for buyers. The simple housing equation is that there are more people wanting to buy than there are properties available and that is unlikely to change any time soon.
On a day-to-day basis little has changed since 23rd June. Let’s all keep our heads and carry on.
After all, that really is the British way.
If you are thinking of buying or selling in the Gloucester area, contact long-established local estate agents Farr & Farr on 01452 500025 or explore our website farrandfarr.co.uk
