According to Rightmove the largest property portal in Britain sooner or later there will be a Brexit rally. This is likely to affect property prices in Wolverhampton at some point during the summer. Rightmove has said asking prices on its portal jumped by an average of 1.1% an increase of £3,447 in the month to April 6th. People looking to sell or purchase their home will start to realise that whilst the Brexit extension saga continues, not much is happening and they might as well continue with their property plans. We have a level of stability at the moment in uncertain times, but the property market has always been unpredictable and always will be.
There is the potential for property prices in Wolverhampton to fall over the short term, but once the Brexit bounce back occurs when it is finally sorted, demand will pick up. When you put the ingredients of cheap mortgage rates and a, pent – up demand together prices will pick up. The reason for mentioning this is whether you are a buy to let investor, a first – time buyer or looking for your next home it is better to conduct your purchase now whilst the market is stable. If you start the process when full confidence in the property returns, the competition will be fierce and it will cost you more money!
Speak to Paul for mortgage advice on 01902 213201