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February 2024 – Property Market Comment with Richard

Will there be love in the air for your property move this February? Here’s Richard with an update on the property market right here, right now.

So let’s look at the current market. As we said last month, there is nothing dramatic happening, which is generally a good thing, as it leads to stability and confidence. Interest rates were held and it looks like we’re in for a gentle reduction in mortgage rates over the coming months and years. But this is probably going to be a slow burn and most people won’t want to wait that long until they move house. The biggest issue is for those people coming to the end of their cheap fixed rate deals who might suddenly have to cope with a 100% increase in their monthly mortgage payment. We suspect many of these people could be coming to market shortly.

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