‘It is now or never for vendors who wish to sell their homes pre- Brexit’ – this was the message given by a leading property dresser and entrepreneur ahead of recent RICS figures showing the fragility of the property market.
Elaine Penhaul, director of property dressing firm Lemon and Lime Interiors, has issued a warning that now really is the best time to sell your property, in light of the fact that we cannot predict what might become of the market after we vacate the EU in March.
Elaine from the firm who dress properties specialising in the higher end of the market said; “Brexit has the potential to rock the market for up to two years and, with the current lack of stock on the market, it poses an opportunity for vendors as they will have less competition. “Buyers who need to move for personal reasons or have to find a new property due to divorce or perhaps relocating for work are currently having to compete for the best new properties entering the market, which in some circumstances has seen them driving the prices upwards”.
Following a recent survey conducted by The Royal Institution of Chartered Surveyors (RICS), the UK’s property market readings were at their weakest since September 2012. It is forecast that prices will continue to fall for the next three months and will remain flat nationally over the next 12 months, meaning property sales will be ‘in limbo’ until a Brexit deal emerges.
Elaine added; “the latest report from the RICS has been a very interesting one and has echoed our own findings. The report has correctly identified that the market could remain flat for the next 12 months and we could see this continue to fall, this is why we are recommending that it is ‘now or never’ for people wishing to sell this side of Brexit “Those vendors wishing to take the plunge and sell should be aiming to make the most of their property. By creating simple changes and additions, you can transform your home into an attractive, stylish property that attracts immediate interest from the moment the initial photographs are taken.”
Michael Rao, Director at Manor House Property, said; “The market has been slow in recent months, but not as slow as last year. I don’t think Brexit will affect the market as much as people think it will, but buyers are worrying about it. My advice is if you need to sell, then sell!”
Lemon and Lime interiors offer a service that helps to sell your home by selling a ‘lifestyle’ and making it more desirable for future buyers. A majority of the firm’s clients have accepted offers in just 30 days and, of the sold properties they have professionally presented in the last year, 64 per cent accepted offers in 10 days or less.