Despite the stamp duty rise in April and
more recently Brexit, the Essex property market remains buoyant, according to
new research from Balgores Property Group.
New instructions are up by an average of 12%
for March-June 2016 compared with the previous quarter. Hornchurch has seen the
largest hike in new instructions, up by 19% followed by Basildon up by 15%,
Upminster up by 12%, Chelmsford up by 9% and Brentwood up by 4%. In contrast,
Romford recorded a 5% drop in instructions. Balgores’ research also shows that
sales are also mirroring the rise in instructions.
Martin Gibbon, a Fellow of the National Association of
Estate Agents and Group Director of Balgores Property Group comments: “It is encouraging to see this boost in
instructions, despite the additional stamp duty charge for investors,
introduced in April and the uncertainty surrounding Brexit. In fact, our
instructions are on par with the normal seasonal uplift and July has started in
much the same way as June.
“We
certainly have seen no indication of doom and gloom in Essex and Kent. The
reality is that for many homeowners and buyers, day-to-day life goes on and the
desire to sell a property and up or downsize, doesn’t appear to be hindered by
the current political landscape.
For further information, contact your
local office or visit www.balgoresproperty.co.uk.
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