Property Market Update from John Smale & Co

We are pleased to report that 12 days after the Brexit news the world still keeps turning. The markets did have bit of a confidence crises at the time, but as time moves on confidence does seem to be returning, this is despite the turmoil in the political world with all political parties involved in some form of leadership struggle. The phones were quiet before the vote, very quiet on the day of the result but we have seen a steady increase in activity as the days move on. Managed this last week to put quite a few properties under offer, one property got involved in bit of a bidding war! So in summary we feel confidence is returning slowly but surely and buyers are still around for that special property. Also remember that North Devon is its own little bubble, we don’t see the massive price hikes and we don’t see the falls either. People will always want to live in North Devon and the area is getting more and more popular, this is unlikely to change. Time will tell, but our feeling is good.