As with most markets, uncertainty can have a big role to play, with the housing market being no exception. As was seen in the build up to last year's General Election, the housing market across the UK pretty much ground to a halt.
In the last month I have had a couple of landlords and property owners ask what impact the referendum might have on the value of their properties. At this stage it is difficult to tell what voters may do, so it is even more difficult to predict whether we will leave the EU or remain. The only thing I could say was that by staying in the EU, this keeps the status quo, which has seen a steady increase in property values across Tamworth. Leaving the EU could bring further uncertainty, having been a member of the EU since 1973, by some it is being seen as a leap into the unknown.
That's not to say that the housing market will crumble should the UK leave. It can be argued that the UK has thrived without closer ties to Brussels, the Euro currency being a good example.
What might affect property prices in Tamworth more is the availability of new homes. After what seemed like years since the last decent sized development, you can now see new homes being built in Two Gates, Penine Way, Browns lane and Hockley. There is no doubt that demand has increased in Tamworth thanks to the amount of jobs available, but this may now slow with these new homes becoming available.
If you would like a valuation on your home to see what it is worth in the current market, give our office a call and a convenient time can be arranged for one of our directors to value your property.