2016 has certainly been a year of change. The pro-Brexit vote shocked much of the population, but the biggest shock of all was Donald Trump winning the US presidential race. Both of the aforementioned sent ripples through a number of sectors – not least the ever changeable property market. Andboth will continue to do so for quite some time.

Although the Brexit vote does have a more immediate and local effect on the housing market here in the UK, what happens across the Atlantic can create tidal waves in our daily life.Despite a lot of uncertainty, the UK economy is seemingly remaining steady in the face of the Brexit vote, while the predicted financial crash that followed a Trump victory has so far failed to materialise. But let’s face it, no one expected Trump to secure a victory, meaning that in the run-up to the election, it was business as usual for investors – until the almost unthinkable happened. As a result, many underwent a rollercoaster ride in the immediate aftermath of the election result.

This automatic reflex reaction on the markets was entirely predictable, but what long-term impact Trump’s victory has on global events is not clear – considering there is almost no guarantee what he will do while in office. With all predictions failing to come to light, what does the future hold for UK property over the coming four years?

Although the UK’s markets have remained steady over the last six months, it would be complacent to say that Britain has come out unscathed. We are just at the start of this new journey, and as a result, many commercial enterprises are in a ‘wait and see what happens’ frame of mind. And although not necessarily negative right now, should this continue for a lengthy period, it is bound to have an impact due todecreasing amounts of investment beginning to wear down both confidence and the willingness to spend money.

Despite this, there are a number of key points that point towards a strong housing market – regardless of all the upheaval across the pond. So, if you’re a first time buyer, the soon to be president’s victory is unlikely to make it easier to jump on the housing ladder. Instead, it looks as though property will remain creeping steadily up for a number of reasons:

The shortage of homes

Neither a Brexit victory nor a Trump one makes any difference in the number of available homes. And just as it did before, the UK still needs more properties – which is still driving up prices. There has been a trend recently of over 55s essentially‘cashing in’their equity and downsizing in order to help their children get a foot on the property ladder. Despite being extremely good news for those benefitting personally, it does put these “silver sellers” in direct competition with first-time buyers as they are both looking for similar properties – and driving up prices even more.

Buy to lets are still attractive

With both revenues and property values rising, purchasing a buy-to-let has become an incredibly lucrative option– particularly as pensions remain unsteady. As a result,some savvy over 55s have decided to supplement their income and invest in property instead – despite the recent tax change announcements. Although a good investment, it does mean that the demand for small and medium homes is not diminishing.

Read our recent blog post on supplementing a pension with a buy to let.

There are more homes on the horizon

The Government has pledged to build more homes to ease the backlog. And in the Autumn Statement, the chancellor even pledged another £1.4bn in order to build more affordable housing. Although on the surface the availability of more homes may dampen demand, the number of homes being built isn’t predicted to meet the ever-increasing demand. Therefore these new homes will seldom result in a sudden or dramatic drop in house prices.

So, if you’re thinking of selling, or indeed postponing your house search in the hope prices will drop, don’t be put off by the impending Trump presidency, or indeed the Brexit vote. Today, homes are worth 5% or more than they were a year ago, so the chances of a crash are minimal.

We do however always advise people to be cautious and do their homework before taking the plunge.However if you’d like to talk to us about your options, we’re always happy to help so get in touch.

If you’re looking to sell your house online, get in touch with us. We’re the UK’s biggest online estate agent and give you full control of your house listing.