Mortgage rates falling back and activity picking up
Details
Hits: 575
Some good news for house buyers this week with fixed rate mortgages rates hitting a six-month low. Fixed mortgage deals have fallen for four months straight.
Coupled with the news from The Budget that inflation is expected to be less than 3% by the end of the year.
We have noticed house viewings numbers pick up through this month. Sales increased in February compared to January and we feel this trend will continue.
All indicators point towards a more normal housing market in 2023. With activity levels similar to what we saw in 2018 and 2019.
Competitively priced starter homes and terrace houses are especially in demand. Although the prices achieved on some larger properties has definitely fallen back since summer 2022 we have agreed more sales in March on properties over £300,000 than we did in January and February