“Post Brexit uncertainty is rife in the Esher and Claygate areas, decreased demand for homes as well as initial overpricing of property has led to the market plateauing.
Most buyers out looking in the run up to Christmas are serious, so the viewings to offer ratio is higher than we have ever experienced, particularly as vendors have become increasingly realistic about the value of their homes and have a desire to sell in the run up to the Christmas period.
The family home market between £650,000 to £1million continues to be the strongest, with buyers keen to find property with more space out of necessity. The market over £1 million is very difficult as an oversupply of property, coupled with a relatively recent increase in Stamp duty in the top bracket, combined with the Brexit uncertainty has seen a lot of properties stick.
Broadly speaking we are still achieving close to record prices 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, despite the economic and political uncertainty globally.”
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