Watford property market: reasons to be cheerful...
Well, 2016 is almost over. How was it for you?
Much of the year of course has been all about the Brexit referendum. Irrespective of which side of the ‘remain/leave’ debate you were on, it was at least heartening to see the country engaging in the political process in a way it rarely seems to during general elections. Everyone seemed to have an opinion!
For us at Lloyds of Watford, 2016 saw us settling into our new office under our new name (re-branding from McDonald & Lloyd). The property market started like a train in the first few months, then stalled a little in late spring as the country seemed to hold it’s breath for the result of the referendum. Post June 23rd, an air of economic uncertainty seemed to stifle the market as we saw a noticeable reduction in the number of buyers registering, and this had the inevitable effect of nudging down prices (from levels that many would argue were un-sustainable in the first place).
So, sounds like a gloomy picture for sellers? Well, here at Lloyds of Watford, we’re filled with cautious optimism for 2017; we achieved a healthy number of sales in the final 4 months of the year for sellers prepared to be realistic, mortgage interest rates remain low, and in case you’ve not noticed, there’s a chronic lack of housing in the south east of England. There’s also the various projects being undertaken in our town such as the Charter Place redevelopment, Croxley rail link and Cassiobury Park regeneration. Watford will continue to be an attractive place to live. There’s every reason to believe the buyers will return in numbers in 2017.
What’s your home worth?
If you’re considering moving home in 2017, or would simply like some idea of your home’s current value, please feel free to contact us. We’ll be happy to visit you at a convenient time, offer advice over the phone or you can pop into see us at the office if you prefer. There’s no obligation and no pressure to use us. We work on the principal that if we can inform and assist homeowners, give straight honest advice and opinion, the chance are they’ll call us when it is time to sell.