Wednesday, 3 August 2016

And so it came to pass in the Penicuik property market ....

In my 30 June 2016 posting on the Penicuik Property Blog, I suggested that post the Brexit vote there would be softness in property prices.

And so it has came to pass .... RICS, the surveyors’ professional body, has published advice on its website to members about valuations post-Brexit.  It strongly implies that surveyors may be in danger of stating too high a price in their valuation reports.  It suggests a form of wording which essentially advises customers that the valuation may not be reliable as the “probability” of that price being achieved in the event of a sale “has reduced”.

So what does this mean for Penicuik buy to let property investors?  It means that sellers are more likely to be open to price negotiation at the moment so you could ‘bag yourself a bargain’!

A few more interesting articles about the Penicuik property market:

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