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House Prices ‘Could Fall 5%’ after Brexit Vote

All the dire warnings about the disastrous impact on the housing market of a Brexit vote appear to have come true in a very short space of time.

Shares in house builders and large estate agencies listed on the stock market dropped dramatically, and quickly, after the result of the referendum became known.

Analysts have suggested that the lowering of the share price will have a negative impact on house prices over the next 12 months, possibly by as much as 5%.

This is a highly significant prediction because in Scotland average values rose by only 0.5% in the past 12 months.

It brings yet more heartbreaking news for property owners, who have seen their portfolios suffer in value for a whole host of reasons this year.

If you are in that situation and have decided it is time to sell up and get out of the business, then R&T Property Solutions would like to hear from you.

We are in the process of expanding our property business and are prepared to act quickly in order to seal a deal.

Although our headquarters are in Glasgow, we operate throughout Scotland and are interested in purchasing flats or houses, either individually or in portfolios, anywhere in the country.

We are able to take a very long term view of property and, consequently, we are unaffected by variations in the marketplace, regardless of whether prices rise sharply or plummet deeply.

We recognise that not every investor is comfortable with this strategy and so we are on hand to assist with the disposal of your assets if required.

By approaching us you would be joining hundreds of others, particularly buy-to-let investors, who have expressed their concerns about the future viability of their investments.

In Scotland there is plenty to be worried about.

The downturn began at the start of the year when it was reported that there was a near 10% drop in the number of new houses being build North of the Border.

By February it was reported that in the UK as a whole house prices increased by just under half a percent month-on-month.

Yet in Scotland there was a drop of nearly one per cent.

One of the main reasons for all this doom and gloom is uncertainty.

Most people feel slightly less secure if they don’t know which way the wind is blowing.

They tend to hunker down and delay any major spending plans.

This is what experts believe is currently afflicting the housing market.

In Scotland we face a triple whammy which is generating a huge amount of uncertainty.

First of all, no-one knows exactly what might happen to the economy when we leave the EU in approximately two years’ time.

We also don’t know where Scotland’s place in Europe will ultimately be.

First Minister Nicola Sturgeon is hoping Scotland can remain in Europe even when the rest of the UK is no longer there.

But at the moment there is no indication from any quarter that she looks likely to succeed in this quest.

On top of all that we have the prospect of yet another referendum, on Scottish independence for the second time since 2014.

Politically and economically Scotland is a very unsettled place at the moment.

And it is this nervousness which analysts think will force house prices downwards for some time to come.

R&T Property Solutions are particularly keen to hear from anyone who thinks “enough is enough”.

We are very interested in tenanted property.

As specialists in the acquisition of regulated tenancies, we act as direct purchasers of properties with sitting tenants in the Glasgow area.

We aim to provide you with a hassle-free transaction and minimal disruption to your tenants.

Our strict code of conduct means:

  • We will not disturb tenants.
  • We do not require internal access.
  • We do not require to conduct internal surveys.
  • We will always act ethically and be reasonable to existing tenants assuring them minimal disruption.
  • We exercise strict client confidentiality for vendors.

We will always pay a fair and competitive market price. Properties with regulated tenants are typically sold at a discount to vacant possession value.

We aim to fully complete the paperwork between 7-14 days, but we can structure a transaction to suit your requirements, including making a cash payment.

And don’t fret if you own a problem property.

We frequently purchase properties which are structurally defective, unable to attract mortgages and of non-traditional construction.

We are experts in these types of properties, although we also purchase normal properties.

With extensive experience in residential and commercial property acquisition, our team will offer an effective, confidential and swift transaction, and more importantly, we do not require home reports.

You are under no obligation to accept our offer.

However, if you do accept our offer and use one of our panel of solicitors, we can pay the fee.

So don’t hang around waiting for the next referendum. Get on the phone and call us now on 0141 636 0521.