Getting the Housing Market Back on Track in the Wake of Brexit storm
The Brexit storm has dealt a crushing blow to the economy that was reverberated through virtually every entity in countries throughout the world. People feared economic hardship and therefore worked to hold onto what they had. The real estate market, which was not expected to be affected, truly was. The people lost confidence in their government and the economy, in general, leading to a significant decrease in home sales.
Now we have come to then end of the first quarter of 2019 and Brexit is still on the minds of many potential homeowners (as well as in the news every day). However, potential buyers should not fear Brexit and its seemingly negative impact on the housing market, but rather embrace the fact that this downturn can pose significant opportunities for those seeking new homes or those looking to invest in real estate let properties.
Facts and Numbers
When talking about financial opportunities,
people want to see real numbers. We will look at specific areas including
Rayleigh and Hockley & Hullbridge.
The vast majority of reporting tends to come from the London areas and wide span polls, it is the smaller markets that are actually benefitting from the Brexit situation. Rayleigh, Hockley & Hullbridge are among the market towns that have seen an increase in the number of homes available as well prices increasing on properties. The positives can be seen in numbers with Rayleigh seeing an increase of 0.92% in property value and Hockley & Hullbridge with an estimated 2.34% increase in the past 3 months.
Rayleigh, Hockley & Hullbridge are hot markets and the numbers prove this. Rayleigh currently has 199 listings listed under offer or sold stc and has 186 available listings available which proves that 50.37% of all listings are currently shown as sold.
Hockley & Hullbridge currently has 178 listings available with 138 listings listed as sold stc or under offer. So, this area maintains that 43.84% of all listings have sold.
These numbers are a sure sign that even though the rest of the country is in strict fear of Brexit and its possible impact, certain areas are thriving and coming out of the current market.
Banks Want to Loan
Banks and mortgage lenders are looking to help potential buyers get back on track in 2019 and that can work to your advantage. New opportunities for first time home buyers like no stamp duty to £300,000 are enticing people to step away from the confines of renting a property and into the freedom home ownership allows for. Financial institutions consider global and local economies, but that also look at the individual city economy as well. For those looking to invest in property in Rayleigh, Hockley & Hullbridge, the positive impact in the property industry in recent months can give you an positivity in receiving financing to make your dream home a reality.
An Increased Interest
March showed, not only an increase in properties
available in these up and coming areas, but an increase in the number of
inquires as well. More people are showing an interest in the property market in
Rayleigh, Hockley & Hullbridge as these areas maintain high marks for the
general happiness of their residents. In terms of overall rating, Rayleigh
maintains a 91% Rayleigh Residents enjoy a safe community with ample nightlife,
recreation, and shopping. Their highest marks are given to schools and public
services in the area.
Hockley & Hullbridge received a 77% rating and that slight drop is merely due to the lack of available shops and entertainment in the area.
Parks, recreation, schools, and public services received 4.5 stars out of 5
More people are flocking to areas such as Rayleigh and Hockley & Hullbridge allowing their individual property markets to show vast improvement due to demand.
What Does that Mean for You?
Numbers in both Rayleigh, Hockley &
Hullbridge prove that these areas, although originally affected by the Brexit
situation, the ripples have now gone beyond the local area. It is a great time
to take advantage of the positive energy surrounding this part of the country.
Those that procrastinate will face higher prices soon to come within the property market but getting out there and viewing properties and making your move is wise to capture prices now before they increase anymore.
This is partly down to the popularity of the towns, not only with local residents moving around town, but also those from the London Borough of Barking, Dagenham, Romford, Hornchurch etc looking to move to Rayleigh, Hockley and Hullbridge and benefit from what they have to offer.
The property market is a funny thing. It
has its ups and downs, but no matter what is going on in the country and even
world, land and home investments are a smart thing.
The property market is always going to be there. People always need a place to live, work, and raise their families and we encourage you to take this opportunity to invest in the thriving areas of Rayleigh, Hockley & Hullbridge before the market becomes too hot to handle!