2016 Market Update - Philip Jordan, Chief Executive
The property market activity for the first six months of 2016 has been steady but rather lacklustre as changes in legislation & stamp duty taxation and a degree of uncertainty from the impending EU referendum all took their toll.
However, the loss of confidence amongst buyers and sellers causing them to pause before embarking on a home move following the country’s decision for Brexit, as reported recently by the RICS, has certainly not been our experience.
In the first week of July we have had our best week of the year so far for exchanges and a very good level of sales were agreed.
I accept that this could represent people making their moving decisions sooner rather than later so we will not be resting on our laurels but currently we are pleased to report that business is steady and operating well across all our 16 offices.
New office opened
In the last 12 months we have opened a new office in Haywards Heath, acquired Gibson Gammon which now operates a successful lettings service from within our Petersfield office, and expanded our lettings services across the group.
The model of operating sales and lettings services alongside each other works particularly well in providing people with a broad range of services to suit their individual circumstances as the market evolves. The diversity of services within Henry Adams is one of our key strengths, from our planning and development businesses to new homes, fine art auctions and surveying. This multi-faceted approach works and offers the widest possible range of property services for clients, large and small.
The local economy in the southern counties we cover has proved resilient to any Brexit uncertainties and although it’s very early days, at times like this there will be great opportunities to buy, certainly at the prime or super prime level.
Homes will always be in demand and now that our new Prime Minister has taken up the reins, the residential market in this part of the country looks set fair to continue with ‘business as usual’ as properties continue to come to the market, buyers are out viewing and sales are being agreed.
If you would like sound advice on the property market or are just curious to know a little more, we would be happy to hear from you.