It will not have escaped the attention of most people that a short while ago Donald Trump has been voted the 45th president of the United States of America. Whilst his victory proved a surprise for many commentators, investors and the global public alike, the conversation for most this morning has been centered around one question: “What now?” The simple answer at this stage is “Who knows!”
As with the EU referendum vote in June of this year, it is (at this stage) impossible to say what effect this result will have on the UK property market, if any at all in the short term. What we do know at this stage is that the US dollar has significantly weakened overnight and commentators largely agree that a volatile day of trading awaits. The drop in the markets reflect investor concern over the effects of a Trump presidency on the economy and trade, however a drop was seen in the UK FTSE 100 immediately after the Brexit vote which improved to pre-referendum levels within a matter of days – it remains to be seen if the same will happen in the US. It is inevitable that any long term impact on the US markets would in some way touch the UK markets too, it's just that at this stage it is impossible to tell what effects will be seen on either.
All in all, today is business as normal: we are still taking calls for market appraisals, we have new instructions coming to the market and we are still taking offers for a variety of properties currently on the market. It is not expected that any of this will change significantly in the immediate term so if you are thinking of selling and have any concerns that you wish to discuss, our knowledgeable team will be happy to advise you on the market conditions within your local area.
Contact details for all our offices can be found here.