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Positive Year Through To Festive Break Bodes Well For 2018

Shropshire has enjoyed a steady and remarkably certain property market during the past twelve months; indeed since the whole Brexit debate heated up nearly two years ago, perhaps the most uncertain time was just prior to the Brexit vote, writes Alistair Hilton Head of sales at Balfours.

I began writing this the first week of December, when at Balfours we were processing a number of sales agreed and exchanged during the Brexit wobble week. Then as the news came through that the British Government had agreed the first phase of the Brexit talks, we were taking instructions to launch several properties to the market and being asked to put several completions through, one for Christmas week.

This “legend,” that the late autumn and winter property market is quiet, certainly doesn’t hold credit at Balfours. We have seen a steady three to five per cent increase in house values throughout Shropshire during 2017. Shropshire has weathered the uncertainty of Brexit exceptionally well, operating in a more insular domestic market with confidence in buyers and sellers alike.

It remains too early to judge the effect the abolition of stamp duty on first time buyers will have – but one suspects that the chancellor’s gesture is a gesture which will be acted upon – and Shropshire has a good stock of homes which will fit the bill.

After deadlock, the breakthrough in the Brexit talks in the 11th hour paves the way for trade agreement talks, empowering Britain – and instilling confidence. This was a crucial stage for the economy, regarding the positive relationship Britain and Europe could achieve – and thereby freeing markets to proceed with confidence.

Going forward into 2018 we all have a better picture of what Brexit looks like and significantly, the knowledge that this is now unlikely to be a divorce where Britain is left out in the cold.

Throughout Balfours territory, Shropshire, Staffordshire and border counties, the residential town and rural markets, development and agricultural land have enjoyed a hugely positive year and running right through to the festive break. For 2018 demand will dictate what will happen to property prices. We don’t anticipate a huge influx of new stock coming to market, enabling prices of good quality, and well marketed, well priced stock, to be a commodity remaining in high demand. Alistair Hilton, is based at Balfours office The Square, Shrewsbury,  This email address is being protected from spambots. You need JavaScript enabled to view it..

 

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