Predictions and forecasts as to what the rest of 2019 holds for the property sector are in circulation.
Research has shown that estate agents in the midlands and the north of England are significantly more positive about the wider economy than their equivalents in the south. A new study revealed that 74% of estate agents in the south regard economic uncertainty as their greatest challenge for 2019, compared to just 62% in the north.
In the north, the pressure to lower fees is stated as the biggest worry by some 63% of respondents, whilst 53% in the midlands and 50% in the south agreed. This is further highlighted by how few estate agents in the south, just 22%, are positive about the UK’s economic growth. This contrasts to 40% of agents in the midlands and 36% in the north.
Brexit is frequently cited as one of the main drivers behind the uncertainty of 2019, particularly within the south.
What does Peter Licourinos think?
However, as HMO on Steroids MD Peter Licourinos states, “There are occasions where you can utilise uncertainly to create and maximise opportunity, particularly for developers.” Peter continues, “There will of course be a big shift in the market, but as long as you have the expertise and are prepared to do the research there will be plenty of opportunities.”
“At the moment it is fair to say that the economy overall is having a tough time but I believe this only helps the best businesses run a tighter ship, reshape, work harder and achieve great things. If you can run a solid business in the tougher times you can really progress in the good.”
“Property is the same, most UK markets are tough at the moment. There is certainly a shift from the sellers to the buyers and for property investors that is an opportunity. Most people will say that prices need another correction but what’s certain is that properties are staying on the market for longer, prices are coming down and only truly motivated sellers are selling quickly. Buyers are waiting with more caution, as are bank of mum and dad and there are less risks being taken, therefore less buyers in general.”
“All in all, there is a great opportunity for investors to pick up some great properties.”
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