It’s that time again, where we get the pleasure of delivering the industry’s most compelling headlines and must-know insights.
And it’s certainly not been a slow month for property. From a soaring demand for rented property to the introduction of valuable new listing regulations, there’s been plenty of news to dissect here at Applegate.
So sit back, relax, and take a look at our carefully curated round-up of highlights…
Fierce competition for privately-rented property
Strong demand for property continues with the supply of homes available failing to match the current rates of growth – and the proportion of landlords planning to reduce the number of properties they let outstripping the proportion set to purchase by 10%.
Although it might seem like a sellers’ market at present, Applegate still have plenty of options available to support house hunters. Our expert team are always happy to discuss your requirements and possibilities, why not give us a call on 01484 682999or fill in our contact form?
Interest rates soar as cost of living rises
The Bank of England has increased interest rates for the second time in three months, taking the Bank Rate from 0.25% to 0.5% – which would add around £24 per month on a £200,000 mortgage.
The increase comes alongside growing pressures on consumer budgets surrounding food prices, energy bills, and upcoming hikes to National Insurance contributions.
The good news is competitive deals are still available to protect your purse strings – including the ability to switch from a tracker mortgage to a fixed rate agreement to mitigate the risk of further price increases. Whatever your circumstances, be sure to contact your lender with any concerns.
To discuss your mortgage queries with an independent specialist, get in touch with the Applegate Properties team who can help to point you in the right direction.
Good news for first-time buyers
Interest and activity has been strong so far this year – with a record number of valuation requests and property searches. However, a return to slightly more stable footing is good news for first-time buyers, with property prices forecast to decrease and the market suspected to enter a calmer period.
That’s all for this month, folks! Watch this space throughout March for our top interior tips and property advice, and we’ll be back again in a few weeks’ time for another round-up.