If you're someone who likes to educate themselves on the economics of our country and more specifically, property, then you'll most certainly be aware of Brexit. In fact, if you haven't heard of Brexit it's likely you've been living under a rock for a few years!
Since our nation made the bold decision to vote out of the EU, it has had an effect on our property market and average house prices have dipped. The most dramatic of those dips have taken place in our capital with foreign investment screeching to a halt for a short while. With that said, people are looking further outside of London for surrounding areas with adequate links to the city. In fact, some of these areas have actually experienced a little growth and bucked the trend.
If you're looking to invest in a home, the market is still a buyers market. With recent changes to the rental income taxation, it's seen landlords offloading their portfolios, making a property a cheaper option for buyers. We always say to our clients, that when investing in a home long-term, it's always a sure investment especially when it's stacked up against rental costs.
Above all, there's one thing we encourage our clients to focus on when investing in their home and that's their personal preferences. It doesn't matter where your property is located or how it appears as long as it meets your requirements. Sit down and list all the things you want from a property and stick to those. That way, you can never go wrong and will be happy with your purchase regardless of how much it's likely to appreciate in value.
If you want some advice on getting on the ladder, please don't hesitate to get in touch.