Chat to a team member

Blog

Sales market supported by Brexit

Jonathan Samuels Jonathan Samuels
Posted on Nov 04, 2019 | in Blog

We issued a press release last month on the fact that we’ve hit £250m redemptions since launching in 2017, with £125m returned to us in 2019 alone.

What we found interesting when looking at the data is that a significant 40% of those redemptions have been by way of sale, and that 90% of those with a sale as their intended exit managed to achieve it.

Given the level of uncertainty created by Brexit, and belief in many corners that prospective buyers are sitting on their hands and refusing to play ball, this is further proof that the market is actually carrying on regardless. It’s by no means early 2007 in terms of transaction levels but there is a lot more buying activity out there than many think.

The latest stamp duty collections data from HMRC issued last week offered further proof of how Brexit has helped drive transactions rather than subdue them. In the third quarter of 2019, stamp duty receipts collected by the Government rose by 20%, driven by 305,100 transactions compared to 268,400 in Q2. 

This was a result of people wanting to get into their new homes and locked into an ultra-low mortgage rate before Brexit, in whatever form it eventually happens (if it even happens), takes place.

The fact that employment levels remain at near record highs was said to be another key support, giving people the confidence to buy amid the political mayhem.

For property investors and developers, this is clearly very positive news. It goes without saying that you need to be investing in the right properties in the right areas — and putting them on the market at the right price when you come to sell — but if you are then there’s a very good chance you will shift your units far quicker than you think.

Many onlookers have written the market off as static and on its knees. Our own experience, reflecting that of HMRC, is the exact opposite. There is life in the market yet.

 

More in this section

Known unknowns more attractive to buyers than unknown unknowns

Oct 22, 2019 | Blog

More evidence emerged this week that, despite the unprecedented…

Jonathan Samuels
Jonathan
READ MORE

Speeding up transaction times in a slow market

Sep 23, 2019 | Blog

It’s common knowledge that the uncertainty created by our potential…

Mark Posniak
Mark
READ MORE

Octane HQ takes delivery of sandbags ahead of Brexit

Sep 11, 2019 | Blog

We took a large delivery of sandbags here at Octane HQ last week,…

Jonathan Samuels
Jonathan
READ MORE
Sections
Archive
Twitter
Follow us @octanecapital

8 months, 3 weeks ago
@AskAmexUK I love my Amex and want to use it even more with @ImagineCurve! Please bring it back @AmexUK @TheFCA… https://t.co/7D0sTD0BD9

9 months ago
RT @mposniak: First 2 pages of the Bridging Introducer feature on @OctaneCapital below where we talk about our plans for 2019 and… https://t.co/CzvQeUBd2R

9 months ago
RT @mposniak: Second 2 pages of the Bridging Introducer feature on @OctaneCapital below where we talk about our plans for 2019 an… https://t.co/OtyvK6Ws4z

9 months ago
RT @mposniak: Lets not forget about what makes @OctaneCapital's #3rdGen engine room tick. Nice little piece in Bridging Introduce… https://t.co/7TzaDzUUbX

9 months ago
RT @mposniak: Delighted to confirm that the 2nd Annual @OctaneCapital #3rdGen #OctaneCapitalCup2019 will be contested on Wednesda… https://t.co/41FYEKOOJd

9 months ago
RT @Beth_JFisher: Every other month, @BandCNews magazine will feature one key industry figure sounding out another. For the first iss… https://t.co/ShVUKUm9ub