If you are interested in selling your house in the near future, moving home, or setting foot on the property ladder in Cheltenham, you’ll need to know what the property market is looking like before you make your move. Unfortunately it is near impossible to say with certainty what the Cheltenham property market will look like in three months, six months, or a year – but there are trends and patterns you can accurately track, as well as predictions that are particularly reliable.
Here’s what you need to know about property in Cheltenham in 2017 so you can be as certain as possible that you are making the best property decision for your needs.
No Downturn in Cheltenham?
As far as the experts see, Cheltenham will remain popular in 2017 for property hunters. There is no sign, as yet, of a downturn in the market. In fact, there has been a continued movement of people into the area and many of these are from outside the area, from London, and even from abroad. This trend where Cheltenham continues to be a popular place to live looks set to continue for the foreseeable future, and the area may even grow in popularity as new homes are built and new amenities and jobs created. The official index of house prices shows that prices across the UK are up, as of the end of 2016, around 6.9 percent year on year. While this figure is lower than other years, it does demonstrate that people are buying and that the market is still buoyant – this is true for Cheltenham as well as generally across the UK.
What About Brexit?
It is absolutely uncertain what will happen when the UK triggers article 50. Experts are not really sure what is will mean for Cheltenham property and property across the country. Some experts predict a fall in growth in the property market due to the uncertainty surrounding Brexit. Some people many think twice about whether it is a good time to move since the economy is in a state of disarray. Others suggest that Brexit will not have as much impact on the property market as other factors such as stamp duty.
Stamp Duty Changes and What They Mean
Changes in stamp duty that were first introduced over two years ago have changed things a little at the top of the property market, and this affects Cheltenham as much of the property is high value. Stamp duty means the upfront cost of purchasing property increases, and this has driven some people to hold off on purchase for a longer amount of time although it has by no means had an overwhelming effect on the market.
So, the bottom line is, 2017 looks like a good year to consider a move in Cheltenham. If you are looking for removals cheltenham offers a wide choice of options, and you can arrange your home move more effectively by booking packing and storage services at the same time.