I’m hearing a lot at the moment about people wanting to purchase below market value properties. Of Course, everybody would want to buy something under market value, however here are some facts that may make your view of these so-called properties change.
Interest rates dropped to all time low
The Bank of England have dropped interest rates to an all time low of 0.25%
So what does that mean to you and me? Well it means that there will be a little bit more money in people’s pockets and borrowing money is a bit cheaper. We have been stable at a half percent interest rate for around seven years now and lets face it it, it is not any major surprise that the Bank of England has done this….
House price growth this year
According to the newly released Rightmove monthly statistics, East of England is still the most successful district within the UK for Price growth in 2016. The annual change so far this year has been an increase of 7.3% showing an average price with the East Anglia area of £336,000
Maximise your garden
When it comes to selling a property it’s very easy to get carried away with the internal beautification, but… it is just as important to remember that the outside of any property not only gives the first impression but also generally creates what most people consider another room outside.
Brexit on reflection
It won’t come as a surprise that the recent referendum decision ground the Norwich housing market to a standstill. BUT… Three weeks on it is a completely different scenario. We are experiencing a far higher level of valuation requests and we are seeing significantly more property coming onto the Norwich property market.
What to expect on a valuation
The first thing we consider when looking at value is the postcode. It’s like they say Location, Location, Location. Some areas are more in demand and some areas have more potential growth, but they all have a rating in the hierarchy of the Norfolk property market.
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