Post Brexit property market in Exeter shows no sign of cooling

News Desk
Authored by News Desk
Posted Thursday, June 30, 2016 - 11:13am

In a post Brexit update local property expert, Roger Wilkinson, says the property market in Exeter shows no sign of cooling.

Mr Wilkinson, MD at Wilkinson Grant & Co, said: "In the five working days following the EU Referendum result we have experienced very much 'business as normal' with 114 days viewings booked, five sales agreed, numerous offers and healthy levels of fresh applicant enquiries.

"The post Brexit property market here in Exeter shows no signs of cooling.

"Indeed, several of the offers coming in have been from London and South East homeowners who have gone under offer since Friday and one potential buyer from Twickenham has fifteen viewers booked-in for this Saturday – hardly signs of a stalling residential property market.

"We do, nonetheless, anticipate that there may well be fewer sales in the next few weeks than we might have hoped for but initial feedback already from both investors and home-movers has been largely very positive.

"There have been one or two people who have expressed concerns about what might happen to property values but sensible conversations demonstrating continued healthy demand, a lower supply of fresh stock to the market than we would normally expect and interest rates only likely to fall – there is no reason to think prices will fall – especially here in one of the UKs property hotspots.

"As ever, anyone buying property should see it as a long term investment. Landlords are still getting good returns and there can be little doubt that prices will rise markedly over the next five years."

Share this