Article written for the Big Voice Directories, November edition – BREXIT Bounce Back.
This month I wanted to introduce Jason Osborn to the RPS team! Jason lives locally in Stubbington with his wife and young daughter. He’s made quite an impression here at RPS, with over 14 years’ experience in the industry his knowledge and understanding of property in the area is second to none. Two months in to his new position as Branch Manager at RPS, he wanted to expresses his views on BREXIT and the buy to let market, we hope you enjoy this short article, more to come in the future!
Mark Rowe – M.Director
Now time has passed since the UK’s decision to leave the EU, the initial shocks have dissipated along with the dramatic headlines across the globe. Mrs May has taken over office as new prime minister, the FTSE has rebounded from its post Brexit low along with the property market. At RPS we have found that post-Brexit, the market has been incredibly active with more prospective buyers registering and taking advantage of low interest rates.
Price growth has been relatively stable and we feel that the drivers behind people moving is down to: changes in employment, personal circumstances and in some cases educational needs, making the lure of our area an attractive place to live.
Demand is exceeding supply, especially for second hand stock. Although we have seen house prices become more stable, we are achieving near asking price offers, showcasing to our clients we are honest with our valuation and making sure we are working for them by getting the best possible price for their property.
Across our area, we have found over the past few months more investors back on the scene, since the second home stamp duty increase in April. The reasons for this increase is due to the rental market being very strong across the board; average rents remain steady and yields for properties across our area remain competitive.
So, for us at RPS, it is business as usual and we are very excited to see what the remainder of the year holds. If you have any property related questions, please do not hesitate to contact myself here at RPS, I like the rest of the team love talking property!
Jason Osborn – Branch Manager