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2015 starts on a positive property note

By Michael Utchanah January 2015

2015 starts on a positive property note

With the Bank of England announcing on the 8th January that interest rates will continue at its record low of 0.5%, an already positive property market should present opportunities for everyone. In fact, the Financial Times states that most City economists are not expecting rates to rise until at least the autumn, and possibly not until early 2016.

The stamp duty reforms that were announced last December had already put a spring in the step of local buyers, who are finding their tax bill has been slashed by thousands of pounds. With budgets stretching further, sellers are finding higher prices are easier to achieve.

Although 2015 may not start as frantically as January 2014, all the signals are very positive. Michael Utchanah, Managing Partner, explains: “The current market may actually present more comfortable conditions for most, as the pace at times last year was a little crazy! Thankfully there are more properties coming on to the market, removing the frustration of missing out on a new home. However, properties are selling quickly so if people see something they like, it is best to act immediately.”

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