As the ‘biggest’ Estate Agent in Devon and Cornwall, David is wondering what the future holds in the local property market…
“After a General Election, there is always a period of reflection, then action, based on the policies adopted by the sitting government. It appears that the main target for taxation will be pensions and inheritance tax with apparent intent to build 1.5 million houses as quickly as is possible. How this affects the market is always open to debate but the fundamental rule of supply and demand will always occur in any free marketplace.
However, if new homes continue to be built (as they are around Launceston), the smaller town properties will find competition stiffening as buyers currently favour properties that do not require work, though nowadays new builds are not without their issues…!
Therefore, the local market becomes polarised with old vs new, village vs town and needing work vs finished article. As interest rates start to move downwards (and mortgage companies continue reducing their rates), the market should spark into life. This will become more likely once the much heralded ‘painful’ budget has been presented to a nervous public who understandably adopt a ‘wait and see’ approach before committing to the biggest purchase of their lives.
The need to get pricing accurate is never more important and customer service is vital to ensure the successful sale of your property. Speak to experienced professionals on 01566 777888.”