Estate agent says lack of sale is because of Brexit referendum
AN entire village in Gwynedd has been on sale for more than three years but won’t seem to sell – even after a dramatic price drop.
The estate agent believes it is because of Brexit, according to Wales Online.
The village of Aberllefenni near Machynlleth first became available with estate agent Dafydd Hardy in August 2016.
The 16 homes and dozens of acres of land were reduced by £250,000 to £1,250,000 but still have not found a buyer despite costing the same as buying a two-bed apartment in
London.
Mr Hardy said: “The main problem is the lack of confidence in the market ever since the referendum took place.
“Don’t get me wrong, we’ve had a lot of interest and even came close to selling them a few times, but because the political goalposts keep getting moved, no one knows what’s going to happen in the future.” He added that, because the properties are already tenanted, any potential landlords will have to consider potential changes to things like the EPC rating levels, the guidelines which enforce energy efficiency standards in the home.
“It could be that, if or when we leave the EU, properties of a certain banding might end up being deemed unlettable until they’re brought up to spec,” said Mr Hardy.
“That means installing new boilers and upgrading heating systems.”
He believes that any potential buyer will be waiting until “long after” the election before deciding to purchase.
“I think people will have to wait until a good six months into 2020 – whichever party gets in – when the economy finally starts to calm down, and confidence returns to the market.
“At the end of the day, we have no control over the external political or economic environment – we have to be positive and roll with it.
“There’s definitely a buyer out there somewhere.”