A PROPERTY boss believes residents in the town could snap up buy-to-let bargains amid people 'panic selling' during Brexit uncertainty.

Manoj Patel, director of Hamlet Homes, which is based at Warrington Business Park, admits he has been 'holding off' from sharing his views on the issue as he 'did not want to add fuel' to stories in the national press.

But he has now opted to highlight what he believes a 'hard Brexit' would mean for the borough's property market.

He said: "It’s true the Warrington property market is seeing less people sell and move and the property values are rising at a slower rate in 2018 compared to the heady days of the first half of this decade, but before we all start panicking, let's ask ourselves, what exactly has happened in the last couple of years since the Brexit vote?

"Warrington house prices have risen by 8.73 per cent since the EU referendum – and yes, in 2018 we are on track (this is projected) to finish on 3,231 property transactions (the number of people selling their home), which is less than 2017 but still higher than the long-term 12-year average of 3,002 transactions in the council area.

"So, it appears the EU vote hasn’t caused many major issues so far, however, if there was a large economic jolt, that could be a different game, yet how likely is that?

"The property market is mostly influenced by interest rates and salaries.

"A hard Brexit would subdue wage growth to some degree, yet the level of the change will depend on the undetermined type of Brexit deal, or no deal.

"If trade barriers are imposed on a hard Brexit, imports will become more expensive, inflation will rise and growth will fall, although at least we are not in the Euro, meaning this could be tempered by the exchange rate of the pound against the Euro.

"In plain language, a hard Brexit will be worse for house prices than a deal."

Mr Patel also discussed what he believes the future holds for people in the area.

He added: "A lot of Warrington homeowners might wait until 2019 to move, meaning less choice for buyers, especially in the desirable areas of Warrington.

"For Warrington landlords, Warrington tenants are also likely to hang off moving until next year, although I suspect, during the lull, there could be some Warrington buy-to-let bargains to be had from people having to move, or the usual panic selling at times of uncertainty.

"Brexit, no Brexit, hard Brexit – in the whole scheme of things, it will be another footnote to history in a decade.

"People still need houses and a roof over their head.

"If property values drop, it is only a paper drop in value because you lose when you actually sell.

"Long term, we aren’t building enough homes, and so, as I always say, property is a long game no matter what happens.

"The property market will always come good."