Post Budget Property Report
Now the much maligned Autumn budget has landed, (40 minutes earlier even than the Chancellor expected!) it is now time to reflect on what this means to the property market in our part of the Country.
The uncertainty has now lifted and the decision to sell or buy can be taken with a much higher degree of confidence. The local market has recently devolved into two tiers, namely properties that sell to more local buyers and those properties who statistically cell to ”out of county” buyers. The new mansion tax charges would seem to be focused on the upper levels of the market therefore not directly affecting us in the locality. However, the increased tax burdens on incomes and savings may well be the trigger for people to up sticks, downsize and move to what is still the preferred destination of the Southwest, with our excellent communication links and proximity to both coastlines the Devon/Cornwall borders still remain a popular destination.
Interest rates may well be soon to be reduced which will help the purchases both locally and upcountry to commit to the larger property/mortgage and so normal service may well be resumed by next Spring/ Summer.
It is vital therefore to get advice from experienced, professional and locally based experts who know the area to understand what is the best way to market your property in the ever dynamic market conditions we are experiencing.
Please contact us, as a 30 year experienced Estate Agent and Auctioneer, on 01566 777888 or pop into the office at Homeleigh Business centre.