Out with the old, in with the new. This is very much the case for UK politics as Theresa May exits through the backdoor of Downing Street with no dance moves in sight. Her replacement, Boris Johnson, managed to get the keys to his new digs without zipline shenanigans and will now be tasked with delivering Brexit and uniting a country that is split almost down the middle.
While Brexit and its exit date of October 31st will dominate headlines and column inches for the next couple of months, the majority of the UK would like to get on with things and obtain some degree of normality to their day-to-day.
The purchasing of bricks and mortar is very much integrated into the fabric of UK culture. As a new resident himself, Mr Johnson can surely attest to the joy of moving into a new home. So, what about homeowners up and down the land? Do you stick or twist in the final moments before Brexit mania hits fever pitch?
Should I wait until after Brexit to sell?
There will be a fair few thinking that it’s best to wait until the dust settles and the smoke clears regarding Brexit. However, such a mindset might not lend itself to the best strategy when it comes to selling your home.
Despite having a new regime in charge, we’re none the wiser about how things may look for the UK on November 1st, the day after our exit date. The line from Downing Street is that a deal would be preferable, but if one can’t be agreed, then ‘no deal’ it is.
A no-deal Brexit leaves a myriad of questions surrounding what happens next – and the UK property market would be part of that conversation. That’s not to say that the whole thing will come crashing to its knees, but those sitting on the selling fence might find that the current climate is more stable.
Summer lovin’, having some fun
Some might call this the calm before the storm, which is why the safe bet lies in putting your property on the sales market now. It’s true that everything might go swimmingly after Brexit, and it’s business as usual. In fact, we don’t expect things to alter dramatically in the wake of leaving the European Union. But it’s better to act now, while there is some degree of certainty in such uncertain times.
While there is no defined time period for selling your property, sellers can expect a slight uptick in the summer months. With the schools on holiday, and people generally having more time on their hands, there tends to be a larger appetite for viewings in August and September.
Right now, the UK is in a decent economic state – a good economy drives people’s decisions to buy and sell homes. With home purchasing more of a long-term plan, any unforeseen circumstances in the wake of Brexit shouldn’t impact those who are currently navigating the sales market.
Trick or treat?
There is almost something poetic about the UK leaving the EU on Halloween. Many are wondering whether the deliverance of Brexit will bring with it exciting treats or some unfortunate tricks. Too often, any talk of the big B word has elicited an emotional reaction. But now is a time for cool heads and well-thought-out decisions.
Boris and co have an unenviable task ahead of them. The decision for property sellers is slightly more straightforward: sell now, while the market has some degree of normality. Or swing the roulette wheel and hedge your bets in a post-Brexit United Kingdom.