It has been widely reported that mortgage rates have risen due to the Bank of England raising the base rate of interest.
However, the forecast for where rates may peak has come down substantially. Lenders had already built a peak base rate of up to 6% in to their new products and as this starts to look less likely fixed rates have started to adjust downwards. With some forecasts predicting fixed rates may be below 4% early in 2023.
Positive news on mortgage rates can only be a good thing for the housing market as we move in to 2023!
Our Great Yarmouth office has received some fantastic reviews this week. Well done all.
I found the team at Aldreds to be very friendly. The experience of purchasing through Aldreds was straightforward and I was regularly communicated to and kept up to date with progress. A special thanks to Bronwyn.
Excellent service, Bronwyn has been our main contact and has been extremely helpful although the whole team have been great and we will definitely be using Aldreds again. Thanks team
We have used Aldreds on many occasions, both as a seller and a buyer and we are never disappointed. From the first point of contact to the last the service we have received is second to none. Friendly, efficient and professional. What more can you ask for in an agent. Would highly recommend them to any would be seller or buyer.
We can thoroughly recommend using the professional services that this agent has to offer. After recently completing on the sale of our charity holiday chalet, the overall experience of the customer journey provided for us was great and exceeded all expectations that we previously had. Aldreds in Great Yarmouth were very clear and concise explaining the process where required and also with dealing with our queries in a prompt and knowledgeable manner - nothing was too much trouble for Chris at the valuation stage. Cheers Chris. We appreciate Bronwyn and Richard accompanying our viewings and we are very grateful to Jackie with her negotiating skills at the point of sale - thank you all. Bronwyn - 'Special' thanks from us all for keeping us regularly updated at the sales progression stage, ensuring that we felt at ease at all times - it is very much appreciated. Keep up the good work all!
As agents we are asked this question on a regular basis and over the last six weeks more often than ever!
It is clear that the interest rises will have a slowing effect on the housing market. We are now well in to November, a time when the housing market starts to cool slightly for Christmas. The true effect of the rate rises and economic uncertainty may not be felt until the new year.
Now the good news! Across all branches we exceeded our sales target for October which demonstrates that there are still buyers looking. Well priced and well marketed properties will continue to receive interest and offers. Our Gorleston branch has listed a property in Browston that has had 16 viewings and a number of offers this week.
Demand for housing in the UK remains strong with the property portals reporting high interest and hit levels.
Interest and a shortage of properties in the private rented sector continues to make investing in property attractive.
Whatever the future brings Aldreds will continue to serve our customers and communities diligently as we have done since 1857.
Two brand new bungalows are unexpectedly back for sale on this popular site.
Both are spacious three bedroom detached bungalows with ensuite, kitchen/diner and utility rooms. Good sized gardens driveways and garages.
Plot 7 is £375,000 and plot 11 £365,000.
Be quick!
We are again delighted to support the fantastic Circus Starr! This wonderful event provides circus entertainment to disadvantage and disabled children. We are proud to sponsor and support them!
