Brexit uncertainty makes home buyers cautious

With the changes in stamp duty in April 2016 and Britain voting to leave the EU, the stage is set for a 2016 with dampened house prices.

Uncertainty in the UK economy internationally and domestically has made many people uneasy about making investment decisions. This unease is particularly evident in the commercial property sector, where as many as seven investment funds have been put on hold or are seeing partners trying to withdraw. Despite this, the same cannot be said for

wealthy foreign investors trading in US Dollar recently. London has seen a rapid period of property transactions with buyers quickly jumping at the chance to buy up prime London property with their sudden Dollar to Pound advantage. However, for the vast majority of the UK which isn’t buying and selling prime London property, some have been struggling to sell.

So how does this impact you?

Recent Savills research suggests a low transaction market with cautious buyers. For lenders, it’s business as usual at the moment, but this could change due to them tightening their lending criteria if “downside risks persist”. At Vivo Property Buyers, we see this as a potential slowdown in the market where values are likely to fall and buyers for your home are likely to become more cautious in the next 6 – 12 months. Therefore, risks of a buyer pulling out for your home could be greater than ever and the price you can sell at may erode when by the time you find another buyer.

So, if you’re worried about your buyer pulling out and getting a lower price in the future, Vivo Property Buyers could be a solution for you. We can buy your home within the timeframe you need and allow you to move on into your next property; it’s simple, fast and takes all the stress out of the Brexit effects on the market. If you want to find out more about the differences of using a fast property buyer compared to a traditional estates agents, read our article here.

To get started, just fill in this quick form or call us on 0800 773 4922. We guarantee the sale, pay all of the fees and you’ll always have direct contact with us with no middlemen.