Published: 14/08/2023 By Alex MaileIt’s that time of year again – the schools are out, our bags are packed and we will all soon be winging our way to sunnier climes. After the year we’ve had, with the cost-of-living crisis and the ever-rising base rate, many of us could do with a bit of a break. And, in a timely boost, the latest inflation figures have just come in and show price rises are finally starting to slow down and at a faster rate than was expected. We still need a few more months of the same before we can be sure we have turned the corner, but the majority of experts believe we now have.
That’s really good news for both sales and lettings - confidence had been slowly ebbing away and had inflation continued on its previous course, there was the danger it could have become entrenched. Instead, we can look forward to the future with considerably more optimism. Both the base rate and mortgages will, though, continue rising for a few more months, but not by nearly as much or for as long as was previously thought. Mortgage costs could then start to fall, reducing the pressure on landlords to raise rents and encouraging more buyers to get active.
In the meantime, summer or not, there is still plenty of activity as there are always people who need to move home. Whether that’s because they are relocating for work, moving to the catchment area of a school, wanting more space for an expanding family or simply because of a change in circumstance. And, for lettings, this is traditionally one of the busiest periods of all, with large numbers of students trying to secure accommodation before the start of the next academic year.
If you’re one of those that are thinking of moving, just give us a call and we can get the ball rolling. You can even do it from the beach if you want, as we are always here to help, come rain or shine.
Well, that’s it from me for this month. Happy holidays and I’ll be back again in August.