The Bank of England’s base rate currently sits at 4.75%, but recent hints from the governor suggest we could see up to four interest rate cuts in 2025. This news has sparked optimism among homeowners, buyers, and investors who have felt the impact of higher borrowing costs. Why Are Rate Cuts Being Discussed? Following a period of high interest rates aimed at tackling inflation, the UK economy now...
The latest Consumer Prices Index (CPI) released by the Office for National Statistics revealed that inflation increased from 1.7% in September to 2.3% in October. But how exactly does inflation impact the property market? There is a link. But it is not quite as simple as it might seem. When inflation rises or falls, it does not necessarily mean that house prices are rising or falling. The CPI, the main...
Earlier today, the Bank of England (B of E) announced that the base interest rate will be cut by 0.25 to 4.75%. This is good news for the property market. Why? The B of E's base rate influences the interest rates many lenders charge for mortgages, loans and other types of credit they offer people. A reduction in the base rate means you can usually borrow money for less. What does it mean for...
With PM Keir Starmer warning it would be painful, the new government’s first Budget has been hotly awaited for some weeks now. In this article, we’ll look at what the Chancellor of the Exchequer, Rachel Reeves, announced – paying specific attention to what will affect the property market. The Chancellor started by giving forecasts which suggest inflation will rise slightly, to 2%+, over the next...
After weeks of campaigning, the general election is done. The worst-kept secret of 2024 is out. We have a new Labour government in the UK, with the party winning by a landslide. Maybe you’re pleased, disappointed or not that bothered. But the fact the election is done ought to be good news for the market. Property markets don’t like uncertainty. So, after months of ‘will they-won’t...
If your dreams of buying a new home rely on the sale of your existing property, then there’s one fundamental question you need to answer. Are you going to look for a new home first and then list your property – or do things the other way around? While both scenarios can work out in the end, we think one option is far more favourable – and that’s getting your current property on the market...
Unless you’re one of those super-organised types who spend the year secretly buying stocking fillers and stashing them under your bed, Christmas is probably the last thing on your mind right now. And why should it be? It’s summer, the schools are shut (for a few more days at least), and you still have months to dust off your reindeer antlers and Yuletide jumper. But there is one reason why it may be...
Let’s be honest, we’ve all been a nosy neighbour at some point, haven’t we? A ‘for sale’ sign goes up on a property in your street, and within minutes you’re online to find out what it’s on the market for. Soon enough, you’re marvelling or shuddering at your neighbour’s taste in décor and deciding that your home is bigger, smaller, smarter or scruffier than theirs. There’s nothing...
It’s often said that you shouldn’t judge a book by its cover, but then (confusingly), it’s also said that first impressions count… Why are all these clichés so important? Well, when marketing a property, it’s a bit of both: how a property looks will catch a buyer’s eye before they pore over the finer details. Photos of your property are what hooks the buyer, what drives them to pick up the...
Buying a new home is a big step that comes with lots of considerations. Finding the right property in a good location at a price you’re willing to pay isn’t always easy and can take time. But when you finally move into your new place to start the next chapter of your life, all the hard work is worth it. Here are some factors to consider if you’re considering buying in 2023. Shifting market The...