With a new PM and taking
the country in to a Brexit era I have been asked many times this week what will
this mean for the Melton Mowbray housing
market.
Theresa May stated in her
Keynote speech a few days before she was confirmed as the new PM -
“We need to make our economy work for everyone – which
is by giving people more opportunity”
She went on to say “It is also why housing matters so much and why we need to do far more to
get more houses built. Because unless we deal with the housing deficit, we will
see house prices keep on rising.”
I was really pleased to hear her spell this out as this
is exactly what Melton needs.
The current demand from tenants is so high it is pushing up prices we can
achieve for a rental property. There are so few properties available that are in good
order that we have a long list of people waiting for houses.
It doesn’t matter which way you voted in the last general
election – with the slow pace of new
building since 2008 there has been little new housing available for those
getting old enough to set up home and with more people living longer in their
homes it puts a squeeze on the property that is in the town.
I do think Brexit is a concern for those in London as
house prices are over the top and rely on overseas investment. In Melton Mowbray we rely on the demand from
families looking for a good base to raise a family and commute to work. The
town offers that. With the demand for housing ever increasing and not enough
new property being built for many years I don’t think Melton will see a drop in house prices.
Lets hope Mrs May does not get distracted by Brexit
Bickering and can find the time to progress matters at home and keep the
economy growing. If lending continues as promised by the major banks then I
believe the property market in Melton Mowbray will continue to see house prices
rising.
Many investors are still looking
for a good buy to let deal. In Melton Mowbray it tends to be people familiar to
the area seeking a long term investment that will give them an income or funds
later in life. If you purchase the right property you will attract long term
tenants that will keep the void periods to a minimum.
In summary Brexit may affect the property market for a
short time but the numbers of people needing housing and the numbers being
built can only mean one thing – demand will continue to out strip supply. And
while that is the case property investment is still a good option for many
people.
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