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Dec 9 2019

Christmas comes early for the London property market

It is the experience of many agents, and most could tell you that at this time of year the property market can get a little quiet as people turn their attention to Christmas shopping, staff parties and family time. This year though, Christmas has come even earlier, as the general election has been announced.
We’ve heard about the Boris bounce, followed by the Corbyn crash, but let’s be honest, with this year’s diet London’s Estate Agent Gooses are certainly not getting too fat! In early November amid even greater Brexit uncertainty the election was announced, setting a less than festive spirit for the sales market.

‘Tis the season to be uncertain, and London presents an exaggerated version of the national picture; scores and scores of people who are planning to do something when stability sets in. And who can blame them? We’ve been talking about Brexit for what feels like ages and yet the story seems to be much the same as last year and the year before that – it’s getting a bit repetitive – like seeing the same film every year! How about some stability or direction – that’s what we really need served up with the Turkey...

Jon Hadfield of Rolfe East Estate Agents, says “There is immense pent up demand, with scrolls of people on our list looking to buy or sell once we move on from instability. We are keeping in contact with our clients and maintaining a close relationship so that once things settle down we can them all moving quickly and smoothly”

Meanwhile, despite the uncertain times, the letting market continues to move at a steady pace; albeit despite the lack of landlords in the private rental sector. Tenancies, being a far shorter-term commitment are less susceptible to the jitters. By the time you read this article, we should be on the cusp of knowing the direction the country is taking and be able to make big decisions with some sort of certainty. But then again...

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