News

Majority Of buyers And sellers undeterred despite Brexit fears

Posted 27 March 2019

A recent survey suggests that both sellers and buyers are undeterred by the impact of Brexit with only 10% of buyers delaying their purchase and 12% of sellers anxious about placing their home on the market until a definitive outcome is announced.

In fact, many home owners are looking to seize the initiative by purchasing property whilst the market remains uncertain. 5% of buyers were looking to strike a deal quickly, whilst prices are falling, before the deadline passes them.

Conversely, 3% of the Machiavellian sellers amongst us were looking to sell their properties now and then delay purchasing a new property until after Brexit with the hope that the Bank of England’s worst case scenario of prices dropping by a third will enable them to swoop in and purchase at a bargain price.

Younger buyers are a lot more cautious with 16% looking to delay their plans to purchase property. People over 45-years are less concerned with the impact it may have with only 11% of this age bracket looking to delay their potential home move.