Property agent predicts 'stable' market despite Brexit

A respected Exeter businessman has reacted to Britain's decision to leave the EU.

Property agent, Roger Wilkinson, said he felt 'for those business and individuals who are more affected by the uncertainty that will undoubtedly result in the European and global economies in the immediate short term'.

But he also assured those who might be worried about the effects on the property market.

In a letter to the Daily, Mr Wilkinson wrote:

"The property market in the South West and the Exeter and East Devon area in particular has been very busy for the whole of this year , with our own agency posting record sales on the run up to the EU Referendum - and we see no reason for activity to curtail on this result.

"We called the top of the market, in terms of significant price rises, weeks ago in the local press,  as supply of fresh property to the market increased and any "overheating" caused by the earlier imbalance between supply and demand naturally began to cool.

"A stable property market is healthy for the economy and that is what we predict for the rest of the year and beyond.

"Investors will look for a secure home for their monies and UK property will continue to be an attractive investment -possibly even more so, as other markets show volatility as the immediate and longer term repercussions of Brexit begin to become clear.

"I feel for those business and individuals who are more affected by the uncertainty that will undoubtedly result in the European and global economies in the immediate short term but here in the South West property market and in the "hot spots" of Exeter and East and South Devon coast in particular, we are expecting a busy time.

"The only note of caution is nothing to do with the Outcome of the Referendum but for those who have been drawn into over-optimistic pricing, as buyers will be conscious of value."

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