Jones Robinson’s Q2 Property Market Trends Report
Despite the uncertainty surrounding Brexit, House Prices in England have continued to increase reaching a record breaking high of £310,471 in June 2016. For those wanting to sell this is great news and should encourage those who are getting cold feet to go ahead with the selling process whilst prices are still on the up.
Whilst no one can predict what the future for the property market may hold, there is a risk of the market taking a slight dip, our advice would be to make the most of the high and sell now to increase your chances of making a profit.
After growth in house prices appeared to slow last Quarter, in Quarter 2 house prices grew by a comparatively large 3.61%. Here at Jones Robinson, we have every faith that the market with continue to grow at this rate in the next quarter due to the high demand for housing in the UK which we believe will outweigh the negative effects of Brexit.
When looking at figures for property prices in West Berkshire, we can see there has also been a strong increase in the average asking price which reached a staggering £415,335 – a year on year increase of £26,718 meaning many West Berkshire residents will have made a great profit on their purchase price.
With the threat of the market taking a downward turn looming, we recommend selling your West Berkshire home soon to ensure maximum gains can be made. Whilst it’s unlikely the market will bottom out as the need for housing in the area is constantly growing, if you are thinking of selling there’s no time like the present.
Property prices in West Berkshire have increased by over 5% in Q2, showing the pause in the Property Market caused by Brexit is yet to affect prices in the South East.
As we predicted in our Brexit vlog, the demand for housing still exists and so despite the air of uncertainty in the country, there remains to be a great demand for property and in particular property in West Berkshire meaning house prices are likely to continue to rise for some time. With London becoming more and more expensive, buyers are flocking to areas such as West Berkshire with great transport links into the city and pushing property prices up even further.
On average across the UK, First Time Buyer Homes are asking for an average of £189,604 as slight decrease when compared with May 2016 which is great news for those looking take a step on the property ladder.
If you would like more information about the property market in West Berkshire and the South East, call the property experts at Jones Robinson Estate Agents, Newbury. Our friendly, local team will be more than happy to help you take a step up the property ladder.