Up-step on housing horizon

An up-step in house sales is anticipated in the next three months, according to Shropshire property agent, Alistair Hilton, head of sales at Balfours.

He says economist are predicting that the Bank of England could drop the base rate by a quarter of a percent, from 5.25% at the next vote due on August 1 and in response the UK’s biggest banks have been cutting mortgage rates in recent days. Add to this the new Labour government that has this week put housing top of its agenda and all factors are pointing to a strengthening of the market.

Alistair explains: “According to the Royal Institution of Chartered Surveyors, many professionals are optimistic that there will be a recovery in house sales, and I join that optimism. This is also driven by the Labour government’s announcement within days of taking office, to commitment to boosting the housing market, aiming to deliver 1.5 million new homes in the next five years.

“For those who have been holding off but want to sell their home, these factors present a window of opportunity to seek a property valuation now. This will put potential vendors, aiming to launch to the market in September, in a stronger place immediately after the holiday season.”

He adds that by planning now paperwork can be put in order, plus external photographs while gardens are in their prime. For your property appraisal call Balfours on 01743 353511.