My name is Mark King and I am a Cardiff-based property buyer. I buy properties throughout the South Wales region. I’ve been in the business over 20 years and have bought over 700 properties in that time.
How to sell a property following the recent Brexit.
Part of my short series on Brexit, I want to talk to you about how I see the market changing in South Wales over the next few months. As you are probably well aware, there has been a real shock to currencies and stock markets from the Brexit referendum result.
What we are seeing in the South Wales market is many of the areas, especially the areas that are more reliant on tenants, with housing benefits and higher unemployment; they have already been hit hard.
Some of these markets there are very little sales going on at the moment. With the more urban markets, again a lot of the investors are out of the market, particularly landlord investors, who have been hit by tax changes and obviously the worry about Brexit.
Quite simply the thoughts and conversations I’m having with many investors are that they are expecting prices to fall now, they are quite happy to wait a few more months or a year even before they add to their portfolio’s.
If you’re are in a situation where you want to get the property sold really quickly, you may have tried with an estate agent and it is not shifting, I’ll be happy to have a look at that property for you. I can make you a cash offer, I can complete it within seven days and I don’t mind what condition that property is in, so even if it needs some work doing to it, or it is in a location where properties are not selling well at the moment, I’m still happy to buy.