Autumn Property Market View

This is a good time of the year to take stock, look back at what has happened so far and at what the remainder of the year may hold. Here at GL&Co we have seen a relatively stable year which, under the circumstances, has been positive.

We were all anxious about the outcome of the referendum, on reflection we were all duped by both sides of the campaign, however all are concerned one way or another, what is in store for the future of the UK.

One thing we do know here at GL&Co is the property market is a resilient one, particularly in Sussex. The area has historically held it’s value well due to our proximity to London and the coast combined with the beautiful countryside close by and the many local attractions for people to enjoy at weekends and during their leisure time. We have been established in the local area for nearly twenty five years and in that time have seen the property market go through a number of cycles, but it always does come out the other side. The figures from the Land Registry show how house prices have changed over the last twenty years and support that over time, property prices perform incredibly well.

Yes, we have historically low interest rates. This means that money in the bank is earning very little. However, it does mean there are some excellent mortgage deals for those looking to buy or move at this point in time. Investors with money in property for the longer term will be seeing a good rental return and capital growth on the property itself. New taxation rules for landlords are starting to take affect but these may be reviewed. If the rental market starts to slow and there are too few properties to meet the demands of prospective tenants then the Government should take action to get the market moving again. First time buyers are out there, but many are choosing to rent rather than buy and the economy needs this rental sector to perform.

If you are considering moving or indeed investing in property and wondering if now is the right time to do so, please contact me. I would be very happy to have a chat with you about the current property market and share my experience of the market built over the last two plus decades in the local area to help you make a decision. You can email me at neilmoore@glproperty.co.uk or call me using 01903 742354.

Neil Moore, Managing Director, GL & Co Estate Agents