This Week In Property
Dec 18, 2022
Hi you. Charlotte here, property developer, landlord, investor, coach/educator.
This week has seen a real slow down, not just in the market but operationally, the cold snap has made it impossible to progress in construction.
Also, mentally, I think everyone has already shut down for Christmas. I’ve had five emails today, (Friday) versus 30-40 on a normal working day.
That’s given me plenty of time to catch up on what’s happening in the property market, so here’s my Christmas gift to you: the best (and worst) of this week’s property news:
BoE interest rate rises 0.5%, but will it drive up mortgage costs?
The Bank of England has raised interest rates by 0.5%, taking the base rate to 3.5% and heralding a rise in many landlords’ buy-to-let mortgage repayments.
Sales market continues to slow, now leading to a softening in house prices
The November 2022 RICS UK Residential Survey results have revealed that overall activity continues to weaken across the sales market, with higher interest rates and a difficult macroeconomic outlook both taking their toll on buyer sentiment.
Bank Rate increased but mortgage rates expected to come down
Despite the latest increase to the Bank Rate, mortgage rates are expected to continue to edge downwards during the coming weeks.
London house prices fall £5,000 in a month
The capital was only region in England where prices fell – but other areas will catch up, experts warn
Construction slowdown predicted until 2027
New work output in the construction industry will not reach pre-pandemic levels until 2027, according to new analysis from the Building Cost Information Service (BCIS).
What’s your view on this week’s news?
Email me on [email protected] or Instagram @accidentalfemaledeveloper