Published: 14/09/2017
since brexit and the changes to stamp duty and tax relief, the housing market has shown a marked downturn, the media seem to be aware of the changes, and are increasingly reporting the fact. this has led the purchasers to expect large price reductions, however, very few vendors seem to have acknowledged the fact that prices are dropping. this has led to market stagnation, with many properties sitting on the market for 6 months, something not seen since the beginning of 2008. so, what are the future prospects for house prices, well in my opinion, the best that vendors can hope for is a flat market, with stagnant prices, however, the reality of the situation is that prices have fallen in the Feltham area, between 3 and 5% over the last year, however, asking prices have not reflected that fact. the current trends are that properties can sell, but the prices have to be realistic, they will not sell for what they sold for a year ago, but it is all relative, the 'price to change' has not altered, but realism is the name of the game with asking prices. in the meantime, the rental market is extremely active, it is possible that potential purchasers have decided to sit on the fence and wait to see what the effects of brexit will be, and rent for a year to wait and see, the next 6 months will be very interesting
