Market is strong says estate agent

A Chesterfield estate agent has said sales are strong despite predictions that Brexit would spell disaster for the housing market.

Commentators from across the board heralded tougher lending restrictions and a loss of confidence in the market in the lead-up to the EU referendum.

But Daniel Elliott, managing director of Wilkins Vardy, said new instructions and sales in the area were at extremely healthy levels after the UK exit.

He added: “It is possibly down a little compared to this time last year but that is bearing in mind our figures include the week afterwards.

“Since July 1 we have completed 63 appraisals, 105 offers and have agreed sales on 29 properties.

“Mortgage products have stayed the same and they are talking about reducing interest rates, so that will only make the market more affordable.”

“We were nervous thinking about how people were going to react but in the three weeks since, it has been business as usual.”

Meanwhile, a survey by Relocation Agent Network of its members since the result has found that over 90% stated that they had seen no housing transactions fall through as a direct consequence of the Brexit result.