Will my Property Sell…?13 Sep 2019
Is Brexit having an impact? Is the sales market slowing down? Will I be able to sell?
These are questions I am asked several times a day and the simple answer is Yes to all of them.
We were all in denial about Brexit saying it would not impact the Scottish market but it is and probably more than expected but perhaps not in the way you think! The sales market has been much slower this year in the number of transactions but this is because there is a lack of stock available.
In Glasgow & Edinburgh, we have struggled to get properties listed since the start of the year but the ones that are listed do sell, quickly and usually for good prices. If we look at the below example I think most of you will be encouraged with the numbers.
Mavisbank Gardens – A 2 bedroom third floor flat overlooking the River Clyde and within walking distance to the city centre. The property is on the market at offers over £135,000 with a home report value of £140,000.
Within the first 48 hours, there were over 600 detail views! That is massive! 1100% more than other properties in the same area.
Lending is still cheap so there is an abundance of active buyers looking for properties but with low supply and with competition for each property house prices are holding and in some areas still increasing.
So Is Brexit having an impact? YES as there is uncertainty and therefore sellers are holding off from placing their home on the market
Is the Sales Market Slowing down? Yes as fewer properties to sell.
Will I be able to sell? Yes as there are so many buyers looking for properties and not enough available making it a great time to sell.