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What does Brexit mean for the North West property market?

1July Author: Dave Dyer . Date Posted: 1st July, 2016

IT’S FAIR to say that it has been a tumultuous time and for those of us in the property business, we’re watching unfolding events with interest.

Depending on which media outlet you read, the pace of house price growth will remain either stable or could be about to take a hit. Then there’s the news that the Bank of England may cut its base rate to 0.25 per cent* – resulting in lower mortgage rates and people waiting to secure the very best fixed rate deals.

Now all this is very well but it’s far too early to say how the property market will ultimately react in the long term. We’ve experienced uncertain times before and what we’ve learned is that what’s true in other parts of the country may not necessarily reflect what’s happening here in the North West.

Affordable family homes

People will always need good quality family homes. Fortunately, in Chorley, we have those in abundance.

For Redrose, it’s been very much business as usual. In fact, there is such a demand for two-bedroom, three-bedroom and four-bedroom properties in our area, we know first-hand that sellers remain in a strong position.

What’s more, buyers here can take advantage of some of the most affordable house prices in the country. The latest Nationwide House Price Index for the three months to June reveals that, while the average national house price is £204,238, in the North West it’s a modest £149,572.

Want to look at our current homes for sale? Click here to search our latest properties.

A great place to live

It’s sometimes good to remind ourselves why our area is, and will continue to be, a fantastic place to live – so let’s break it down:

*A good mix of homes and styles to choose from – whether you are a buyer or looking to rent

*Great commuter links to Manchester, Preston and Wigan

*Easily accessible to the coast

*Close to beautiful countryside, including Cumbria and the Lake District

The good news? None of this is going to change anytime soon.

If you want us to sell your home, get in touch with the Redrose team on 01772 456558.

*UPDATE: Since our post was published, the Bank of England has cut its base rate to 0.25 per cent as widely predicted. To read what this means for buyers, take a look here.

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