Well, that was bit of a shock to wake up to this morning! This seems to be the consensus that it was surprising, certainly the markets reacted quickly and the pound plummeted. At the office we have been quiet to the lead up to the vote due to the uncertainty the vote created, with this surprise outcome the phone today has certainly gone very quiet. The vote will certainly create uncertainty in the property market with buyers, investors developers taking a cautious approach.
I believe in North Devon we will see a period of a slow market until the mist clears and then I am hopeful of a return to a normal market as the pent up demand needs to make a move. So 3-4 months of slow market then increased activity thereafter. Unique properties and the high demand areas wont be damaged as buyers will continue to grab the rare opportunities that are out there. We are confident long term the markets will settle and normal service will resume.
