ITH children back at school and those two weeks in the sun a distant memory, some of us will start to focus our attention on other parts of our lives, like ‘Do we need more space or less space? ‘A bigger garden?’ ‘A smaller garden?’ and ‘Can I face another Christmas with the in-laws camping in the spare room?’
Some of these questions will prompt a potential move and interestingly this has been reflected in this week’s activity, with our Home Counties offices seeing a 100% increase in the number of potential buyers registering and viewings being arranged.
Encouragingly this has also been reflected in the increase in activity in the higher price levels of the market, with more enquiries above £2m than we have seen for many a month.
After only three months following the vote to leave Europe, I am not going
to pretend that everything is back to normal, but there is an element of ‘life must go on!’
Perhaps for some, the fact that the world has not fallen off the edge of a cliff, as some predicted, is proof that time is a healer. I believe that the clients who have taken a sensible stand on adjusting their price expectations and have chosen to ‘reposition’, their asking price has seen some positive effect.
No doubt the appointment of Theresa May as our new prime minister and the cut in the base rate by the Bank of England to 0.25%, creating a new record low for interest rates, has had a contributing effect to the general state of wellbeing.This is reflected by a substantial increase in UK consumer spending in August, up 6.2% from the same month last year, which doesn’t sound to me like a nation lacking in too much confidence!
The rental market remains steady with good demand in the lower to mid-range price levels (£1,000–£2,500 pcm).
In the Home Counties we have recently seen and picked up a number of corporate clients. However these tenants generally have lower budgets,