23 Jan

2014 Has Arrived

So we have started 2014 with everyone seemingly in a positive mood. The economic data is very encouraging. However, the unemployment rate has dropped to 7.1% (which is good news) but it is just above the point at which the new governor of the bank of England stated that he would review interest rates and consider raising them. Whilst I do not expect volatile rises in rates those persons not on fixed rate mortgages should look again at perhaps protecting their future position. A 2 tier economy is emerging with a vibrant London and the South East quite out of sync with the rest of the United Kingdom which is only now starting to feel the green shoots of housing recovery. There seems a perfect alignment of return of confidence, lack of available stock to buy, still relatively low interest rates and increased availability of mortgage finance. Again fears have been voiced in certain quarters about unsustainable price rises and we urge caution should you feel pressured to make a decision on whether to make an offer on a property. Whilst buyers should always be pro-active if you decide in haste you may find that you repent at leisure.

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