We’ve just had the good news that interest rates have dropped. Interest rates now stand at 4.75% and the drop is in line with expectations of the Bank of England today.
The C Word
I don’t like to be the one who brings up the “C” word but I find myself bracing myself every time I walk into the supermarket these days, wondering if Christmas carols will be playing yet!
Stamp duty on the up
It has been announced today that the stamp duty payable on second homes will rise from 3% to 5% as of tomorrow, that’s the 31st of October 2024, which if you excuse my pun is a scary thought!
Morton Reeves Estate Agents Celebrates 10th Anniversary of Service Excellence
Morton Reeves Estate Agents, a trusted name in the property market of Norwich and the surrounding areas, proudly announces the celebration of its 10th anniversary
Interest rates have been decreased by the bank of England
Is this the start of a more stable property market? Just last week, we saw the Nationwide Building Society release rates of less than 4% on some mortgage deals. This combined with a reduction in the Bank of England base rate, we think will help to solidify the 2024 property market and create excellent bedrock for potential further growth.
FEBRUARY PROPERTY UPDATE 2024
These figures are taken from the Rightmove property index, which rather unfortunately includes the Cambridge data within the East Anglia region, but it does show a more regional interpretation of price change, rather than the national figures which are always way out for us in Norfolk with London prices being so high!
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