Surge in offers for agent who bucked EU trend
- Credit: Archant
An award winning estate agent has seen a surge in offers on properties following the Brexit vote, contradicting predictions of a property crash.
On June 30 alone, Thomas Morris branches saw seven offers on properties accepted, which was around a 30 per cent increase on any given day at the same time in May.
Simon Bradbury, director at Thomas Morris, said: “What we are seeing, following the Brexit vote, is not the Armageddon that everyone expected.
“The number of offers coming in and the value of these offers says to me that people are still confident in the property market and aren’t running away or pulling out.”
On average, the company has reported that offers across its branches are currently within five per cent of the asking price, with some properties achieving over the asking price.
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Mr Bradbury added: “Of course this is still very early days in our Brexit position, and things will change and develop over the coming weeks and months. However, where people need to move they will move, and so far property values haven’t dropped.”
Craig Vile, from online property valuation tool, Valpal, used by Thomas Morris and thousands of other agent branches across the country, said, “This is a trend that we are seeing nationally. The same number of people are going online to value their properties via agent’s websites, and we have not seen any drop off in interest in valuing and selling houses so far.
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“Potential vendors should keep an eye on the value of their properties over the next few months with help from their agents, but there is no reason why confidence in the market should decrease as the economy starts to settle after last week’s blip.”