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.
