Interest rates | Stamp duty | Taxation | Brexit
All of the above are important factors that can determine and shape the PCL property market and indeed are key and widely discussed economic and political indicators.
Since interest rates rose by 0.25% in August 2018, all have remained constant which begs the questions – what exactly has caused the recent upturn in buyer sentiment in recent weeks?
Pent up demand? Frustration? Maybe, but we believe that in part, the front page of newspapers has been the catalyst, causing buyers’ confidence to increase.
While the front pages were reporting nothing but Brexit and political turmoil in February and March, buyers hibernated, constantly reminded about the uncertainty ahead.
As soon as the "Brexit can had been kicked along the road" and the front pages reported other stories, buyers have begun to emerge into the spring market with renewed confidence. The question is, "will it be a false dawn"? With important Brexit decisions still to be made, it's hard to say.
What we can say however, is that at the moment, the market hasn’t been better for sellers’ for the past two or three years so if you’re thinking of selling, be decisive and act quickly to find a motivated buyer.