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Property Experts Say Triggering Article 50 Will INCREASE the Home Sold Prices

In her addresses to the House of Commons, Prime Minister Teresa May has made it clear that Brexit negotiations will begin by the end of March, and the UK will be leaving the European Union. The many political and economic implications of Article 50 have well documented in the British press over the last 12 months. But what does Article 50 mean for homeowners, and more specifically, homesold prices?

Far from predicted a decrease in property sold prices across the UK, some property experts are taking a more optimistic view and believe that the sold prices of homes across will increase - which is great news for homeowners!

Springbok Properties understands property market trends and monitors the sold prices of homes across the UK closely. Call us TODAY on: 0800 068 4015 and speak to one of our award-winning customer service team to list your property.

 

Regional Prosperity

It's difficult to predict the short and long term implications of triggering Article 50. The UK has been a part of the European Union since 1973, and many UK residents (including those in the prime of their working career) have never known a political and economic landscape without the UK being part of the EU.

Property forecasters do agree that the sold prices of homes are likely to be affected, but disagree over whether sold prices will increase or decrease.

Will Hermann, director of West Eleven, a property investment and development company in South London believes that upmarket property regions, such as Fulham, Chelsea and Knightsbridge may indeed flourish. However, Mr. Hermann does warn that other sold prices in other areas of the country may not experience the same level of property sold prices growth.

He goes on to explain that property sold prices have been affected by Brexit. The announcement of the UK leaving the European Union in 2016 did initially cause property market volatility, however any uncertainty around house sold prices has now been resolved.

Springbok Properties can compare sold prices of home in every area of the UK and provide homeowners with a valuation to attract serious buyers. To discover the value of your home, call us TODAY on: 0800 068 4015.

Property Rental Prices

Leading property analysts also believe that once Article 50 is triggered, both property sold prices - and rental costs will increase.

The lack of general rental properties in the UK, combined with the rising costs of monthly property ownership to landlords, will result in steeper costs for renters. The boom of propertysold pricesin the UK over the last few years has also seen increased competition for rental properties - pushing rental prices up.

There is also presently a shortfall of rental properties across the UK. This has resulted in an inflation of rental costs.

Springbok Properties sells more than 230 homes every month across the UK. Valuing property with attractive sold prices, we can sell your home quickly at no upfront costs. To find out local property sold prices in your area, or list your home, call us TODAY on: 0800 068 4015.

 

Overseas Property Investors

Property experts agree that Brexit will have a nominal effect on buyers from overseas, and the sold prices of UK property. Many global property investors still view the UK property market as an attractive option.

Far East investors, for example, have paid little mind to Brexit. Investors from China have a strong desire to protect their wealth in a country with a strong democracy with stringent judiciary and property laws.

The poor performance of the Euro has also had a greater impact when investors consider the sold prices of UK property. European property investors are attracted to a country like the UK with a stable currency. The pound offers this, making the sold prices of homes in the UK property market more appealing to buyers.

The long-term effects Brexit will have on the UK property market and UK house sold prices is unknown. However, there is certain room for optimism. The March figures of the Nationwide House Price Index have found that sold prices are still growing in the UK. This is good news for homeowners that wish to cash-in on their property investment and sell their homes quickly.

Springbok Properties has a portfolio of property investors. We proactively market homes to cash-rich buyers who can exchange contracts on homes in a matter of days. To find out how we can sell your home to one of our investors for no upfront costs, call us TODAY on: 0800 068 4015.

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