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Following the UK's decision to leave the EU in June's referendum, there has been a lot of uncertainty in many areas. Generally speaking, many voters seemed surprised at the outcome, whichever way they voted. In the weeks immediately following the referendum, uncertainty grew further as people learned exactly what Brexit may mean. Politics aside, the country seems to be coming to terms with the result and this being Britain, life must go on.
So is now a good time to buy a new home, or is it better to wait until the UK eventually leaves the EU? Given that the political process after the Prime Minister invokes Article 50 could take two years or more, can buyers afford to wait?
Some house moves are essential: A couple moving out of their parents' houses to buy their first home together; Downsizing when the kids have flown the nest; Upsizing as families grow. There will always be a housing market, because there will always be people who need to move.
Unless you're buying property as an investment for a short-term gain, a new home is usually bought with a generation or a life time of owning it in mind. So although there was an initial dip in house prices immediately post-referendum, they have evened out now. Price growth has slowed but again, that ought to be of little relevance to the home-buyer. Also, interest rates are low, so now is a good time to borrow. If there is any further negative economic impact from Brexit, the Bank of England will more than likely reduce interest rates further, to encourage borrowing, spending and economic growth.
Looking again at property as a long-term investment, historically it has performed well. Brexit may have slowed down growth, but over the longer term, property investment is still a wise choice. Brexit has simply been a braking mechanism.
There may well be further uncertainty once Article 50 is invoked and this could continue for two or three years. So although now may not be the best time to invest for short-term gain, it is a very good time to make a planned or longed-for move. Why put off the rest of your life, only to make that time in a new home shorter?
The housing market will continue to thrive after this temporary slowing down, brought on by caution. There will always be people needing or wishing to move home, whether they're buying or renting. It can be a stressful experience but moving home is a necessity of life.
Given that now is as good a time as any, and that waiting for post-Brexit is an unnecessary caution, take some of the stress out of the big move by letting us help you. We're an established family team of removals professionals. From a man with a van, to a complete removals service, we're here to help. We are experts in home and office removals, packing, storage and clearance.
Need a friendly removals firm in Battersea, Wandsworth, Clapham or South West London? Call our removal team today!
Contact us on 07445831111 or 07427295922
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