Estate agents view on the current market

Property Investment

I thought I'd pass this on.

I spoke for an hour with one of my closest friends yesterday, he owns an estate agent.

This week he took four instructions on Monday on the South Coast area. By Wednesday he had four firm offers that were accepted....

When asked, based on his 40 years experience, what a good solid empowered Govt does for the market coupled with (luck) a sorted Brexit, he was of the opinion this year will be strong purely as people have been sitting on their hands. He is about to start the work to open a second shop. His words were "why would I do that if I felt the market was going to be better than it has been these last 18 months"?

Lastly I asked about the tax changes for PRS. he had a different spin, he said that people still have money to invest, and he is seeing a fair few retirement people using their lump sums to invest in just one or two properties. no Section 24 issues as no mortgages, just income from property. plus bank of mum and dad is a large section of his buying, and it is increasing.

I know this is not the whole country .. but I wanted to pass on info from one small bit of the country ..