First, the good news. Between the end of June and the end of October, which includes the quieter summer period, we sold as much property as we did in the four months before the EU referendum. That’s a pretty heartening statistic given the uncertainty and shock the Leave vote caused.
However, things are most definitely not as they were before June 23rd. In fact, the landscape is markedly different.
Depending on the press you read, everything’s been super hunky dory since the Brexit vote, or we’re all on the road to hell. And yet neither of those reporting stances reflects our experience.
For a start, there are far fewer buyers registering. A mooted benefit of a Leave vote is that property might become more affordable, and that is a possibility. But less people calling to buy isn’t the same as lots of people calling to buy for less money. It’s just less people calling
To some, the vote to leave is a signal to hold off buying a property. They may live to regret that, and they may not.
Those actually getting in touch are mostly very serious and have absorbed the referendum result. They’re either over it, are taking the long view, or simply need to move – and people who need to move are the very best buyers there are, whatever the market.
For them, the prospect of two years’ media guesswork over what may or may not happen isn’t going to stand in the way of their lives. They’re still about to start a family; their children still need to go to school; their job is still moving; they’re still retiring.
Prices have held steady from the lack of new stock coming onto the market. Buyers have not been faced with a glut from which to pick and choose and play hardball on price. In fact, there are still bidding wars for popular homes.
But it’s not all rosy in the garden. Property doesn’t walk out the door like it did around the end of 2015/early 2016. Any agent simply loading images onto Rightmove and waiting for viewing requests will be tapping their fingers for a while. Fortunately, that's not our style.
We’re certain we’ve managed to sell as much property as we have since June 23rd because of pure hard graft. We are on the phone all the time, working extremely closely with buyers to develop relationships and seriously refine their requirements. Understanding exactly what somebody wants and why is key to having people in mind when property comes up for sale: and if property is seen to be selling, concern turns into confidence, viewings into offers.
For owners, today is not the time to be testing out an inflated price. The last thing the market needs is a bunch of stagnant property. But if you’re serious about selling and sensible about price, we will find you a buyer.
To reach beyond Rightmove and Zoopla, we've increased our marketing spend and launched R&R TODAY, a new lifestyle website about Reigate and Redhill. With an accompanying newspaper delivered to 20,000 local addresses and featuring local properties for sale, R&R TODAY gets to people in their homes before they go online.
So there you have it. We hope that gives you a clear idea of what's happening in the market and what we're doing to make the most of it. We love to talk, so if you'd like to have a conversation about your move, do get in touch.