If like many others you have been looking to move house you will have seen a lot of different things happen with the property market. Over the last year it has been extremely competitive and hectic, especially when the stamp duty holiday was introduced. However, more positively within the field there have been signs of many more properties coming to the market so hopefully you will be able to find the property you are looking for.
Many people have predicted that the asking price of a house will rise 5% by next year. Currently the national asking price is £342,401 so the 5% increases that about £17,000. This would be the highest rate since 2015. The reason for this is that there is a large amount of the population looking to sell and move but because of the demand for the houses there is not enough houses available to be bought. The new year will bring fresh opportunities for any buyers who are looking to enter the market.
Currently The Bank of England’s base rate has remained at a record low of 0.1% but experts around the country expect that will rise in the not too distant future. It very likely that this could influence mortgage rates so this is a reason why buyers may want to look to invest sooner rather than later as it will have a lesser impact on them.
With the help of Moovd, we can help you to find the perfect property in Durham. Whether you are looking for your very first house to buy or your forever home, our team of expert estate agents will be on hand to support you every step of the way.
We have recently won The British Property Award for Durham! Our team performed outstandingly throughout the judging period which was heavily focused on customer service levels. Well done team.