Base rate rises have effect on market – but sales are still being agreed! Have the Bank of England base rate rises effected activity and house prices? Absolutely. Are properties still being sold? Definitely. There is no doubt the cycle of interest rate rises that started in the summer of 2022 have adjusted the market. Higher mortgage payments will have an effect in many ways including bringing people to the market looking to downsize and making families hold of on their moving plans. Is the housing market dead at the moment? Not at all. Our Gorleston office is about to record their strongest month on new sales since summer 2022. This has been achieved by working hard with our vendors on marketing and pricing strategy whilst proactively matching buyers and sellers. How does the market compare to post credit crunch 2008? – At the moment it is stronger. Banks are still keen to lend but at higher rates. Mortgage availability is good. Still time to move in 2023. If you are thinking of selling give us a call!