“Demand for properties for both sales and rentals in Thames Ditton and Long Ditton (KT6 and KT7) is significantly down post Brexit. That said, tenants and buyers who are looking are serious so the viewings to offer ratio is very high. Stock levels are decreasing daily leading up to Xmas which is a seasonal trend. With this, supply and demand then switches back to a sellers’ market and properties which weren’t selling in the summer are now receiving solid offers with buyers keen to have offers accepted before Xmas.
I anticipate a small uplift in stock levels in Thames Ditton in Q1 of 2017 which in turn should get the market moving again. Sellers are still hesitant to put their homes on market because they feel they isn’t anything out there they would buy. The ‘chicken and egg scenario’ in real estate. If good homes came to the market, then more good homes would come to the market. It’s a simple supply and demand issue.
Broadly speaking we are still achieving close record prices in Thames Ditton and Long Ditton but it’s taking longer to receive these offers. Buyers tend to track new listings and view after a few weeks or after a price reduction in some cases. Buyer confidence is understandably down with recent developments in the EU and the US. That said, properties in Surrey are always in hot demand and fairly resilient to the crazy world we now live in.”