First of all, we apologise. We all know that Brexit is important and that it is likely to have a big impact on our lives, but it is a topic that can be overwhelming. Also, as it is a topic that is very divisive, conversations about Brexit and it’s likely impact can be very draining. We hopefully won’t talk too much about Britain and it’s relationship with the European Union but given the fact that Brexit was tipped to have a huge impact on the UK property market, it is something that we need to consider from time to time.
Britain is still tipped to leave the European Union in March of 2019, but there hasn’t been as much progress made as most people would have liked. This means the full impact of Brexit may yet still be to come, but at this point, the doom and gloom predicted for the property market has yet to pan out.
In 2017, there were 1,223,400 property transactions in the United Kingdom. This was a minor reduction of the 2016 figure, which was 1,230,580; with the change representing a drop of 0.58%. When you think about the number of issues impacting on the British economy and the property market in general, this isn’t a bad situation at all, and far from the crisis that many people suggested would engulf the UK property market in the wake of Brexit.
London is not everything in the UK property market
There is still a lot of concern and criticism in the media regarding the behaviour of the UK property market, but there may be an apparent reason for this. After a decade of huge growth and interest, the London property market is slowing down. There are some parts of the capital which still offer value but in general, there are many areas which have reached a peak and are now slowing down or falling to a more reasonable price. This is something that many people have predicted and given the natural order of things, this was always liable to happen at some point, regardless of Brexit.
Away from London, there are parts of the country that are performing strongly, with the north west of England doing very well. This is something that we know all too well at Spencer Harvey, and we believe that areas like Stockport have a great deal to offer in the current climate. Handily located for Manchester Airport and Manchester itself, Stockport provides the best of both worlds with a community spirit but big city centres close by. Even the heart of London is a relatively short journey by train, making Stockport an excellent destination when it comes to finding a base.
If you would like to talk more about Stockport property options, you will find that we are the local experts you can rely on. You can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html