Property Professional’s Market Comment

Being invited to a corporate event is always interesting as you know there will be a room full of people you’ve not seen for years, some you’ve never met or some you meet all the time and last week we were at York Races courtesy of Big Property Sale. When everyone in the room works in the property market it’s good to gauge everyone’s opinion particularly in view of the recent EU vote.

The land & new homes representatives were happy! They were busy in the run up to the vote and still are, having seen very little change in activity and buyer confidence.

The estate agents were a little more cautious with buyer confidence taking a step back leading up the vote and renewed activity starting to feed through the branches after a quiet few weeks.

The buy to let property people were all reporting fairly similar things but with some regional differences. The exclusively southern operators were manically busy and things hadn’t changed before or after the vote and business was very good…though in typical London style I suspect this was exaggerated and even if they were having a terrible time they wouldn’t actually admit it. Others reported caution leading up to the vote but a real turnaround after the result with high levels of confidence and buyer activity.

The solicitors there were incredibly busy, but they always are!

In broad summary everyone was busy, buyer confidence was  strong and overseas buyers were noticeably active. We have already commented on this in recent blog updates but it’s always good to know what else is happening in the market. It is also worth saying that the property experience in the room was exceptional and nobody could realistically see property prices dropping and that most felt that worst case was that the forecasted growth would dip but little more. Again, we have already commented on this on previously but others opinions are always welcome.

Good day had by all, far too much drunk and choosing a winner is something that eluded most of us!


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