“Having been in the industry for over 30 years rarely have I seen such a roller coaster of a year. The increase in the Stamp Duty Land Tax for investment purchases to an extra 3% came in from April and was closely followed by the shock Brexit Yes vote both lead to big fluctuations over this 4-5 month period. Many investors expedited their purchases and rushed through completions at the end of March in order to avoid the stamp duty rise. Conversely to this, buyers held off making decisions during June which had a knock on effect in September / October with lower than average completions at this time of the year.”
“Despite these factors, Orchard still exceeded its targets and property prices have held their values, finishing up with slightly higher than average prices being achieved, compared to last year.” Nigel continues, “We have such a recognised brand and with senior staff who have worked in the industry and local area for many years in much tougher times we are fortunate to be able to react quickly to market changes and provide the right advice to clients in any changing market. Our success in 2016 is derived from experienced, hard working staff that have the right communication skills to negotiate with buyers and sellers. I am very much looking to a steady and busy 2017.”
On behalf of myself and the entire Orchard team, I would just like to wish you a very Merry Christmas and a Happy New Year!