We thought it may be helpful to provide you with some information on the state of the property market in 2023. Obviously there is inflation in the economy and the Government, together with the Bank of England will be doing what they can to reduce this...
The Halifax Building Society has recently reported that prices fell back by 2.3% in November, but less so, at 1.5% in December. To put perspective on this, prices increased in 2021 by 11% (on average in the UK) and a further 6% in the first half...
We believe that we are now in safe hands and are optimistic that the right policies will be undertaken to re-establish stability in the economy. Some of this will undoubtedly be painful, the fundamental remedies will be to increase taxes and to cut expenditure, but we...
Since the announcement of the ‘mini budget’ and the disruption that has occurred in the financial markets, you are probably wondering about the position with mortgages? Inflation was coming about already for external reasons, the debt incurred during the pandemic and support in the Ukraine war,...
In the face of the high level of inflation and rising interest rates, it is not unreasonable to anticipate some fall back in the market. However, it is our experience being on the ground, that this is not happening. Undoubtedly, the extreme pressure on purchasers has...
We are not expecting this to happen, but the event that it did it would be a temporary phenomenon. House purchase is a medium to long term project and it is highly likely that inflation in prices would return, before you come to sell. This...
We don’t expect it to have any appreciable effect on the market. The market has slowed a little because of the onset of the holiday season, but active buyers will not be put off. It will only have a moderate effect on mortgage rates and...
Good numbers of attractive properties are still coming onto the market, but are taking longer to sell. Naturally at a time of inflation and uncertainty, a more cautious approach to moving is understandable, but this reaction will be temporary. The need to move is still there,...
No-one wants to pay a higher fee for anything, unless they have to, but below a certain level, a truly efficient service cannot be supplied. Why would you pay more with some airlines than others? There is a reason. For a lower price you have to...
We can report that the market is changing. The numbers of properties coming onto the market are slightly increasing, but they are taking a longer time to sell. Demand has perceptibly decreased, at least following an initial flurry of interest at the outset and if...