Autumn Statement a time for reflection!
Impact of the Autumn Statement
The Housing Market: Had a ‘Mini Panic’ after the Liz Truss Mini Budget and the rise in inflation along with the cost of living compounding this. Demand for new homes is still here and the market will settle down to the ‘New Normal’ after the winter season.
Stamp Duty: Base rate of £250,000 is now better for the average house buyer in the North-West and the £425,000 base rate for first time buyers even more attractive.
Mortgage Market: Increased interest rates added to the ‘Mini Panic’ but these have been reducing steadily with scope for further reductions. After an extended period of low interest however, it may be time to get used to higher interest rates in the future.
The Holiday Home Market: Has been booming since the pandemic with huge investment into Holiday Homes which has paused for breath in recent months. Holiday Homes are a luxury buy and there will be a lot of bargains to be had as current owners look to release equity to help with the cost of living.
If you are looking to buy a UK Holiday Home or simply move house then Team Tempo can help. We have wide range of properties and Holiday Homes for sale across the UK, for further information:-
Contact Team Tempo on 01772 633399 or visit our websites, tempoleisure.co.uk and tempoestates.co.uk.
‘Time for positive thinking’
We Love to Sell Houses
According to Zoopla, “It is a property market ‘shake out’ not a market crash!”
Life goes on so if you are looking for advice contact Team Tempo Now!!
Marketing Your Property in the ‘New Normal’
The spike in mortgage rates after the mini budget left the property market a little unsettled but it is still open for business.
It is however becoming a ‘Buyers Market’ so it is now time to become more realistic both in valuations and expectations.
A little patience all round is now needed to sell your property, so why not contact Team Tempo to discus.
Let Team Tempo do the Work!! Contact Team Tempo.
Latest Stamp Duty Levels
Good News for the North West
The adjustments to Stamp Duty in the Autumn Statement is good news for house buyers in the North West. The average house price is in the region of £200,000 so this will be a major benefit for most purchasers.
This is particularly good news for first time buyers where the potential Stamp Duty level could be £425,000.
For further advice: Contact Team Tempo.
Mortgage Market
A time to reflect
The ‘Mini Budget’ created panic in the mortgage market with a knee-jerk reaction to interest rates and an immediate drop in demand from prospective buyers.
The ‘Good News’ is that the mortgage market is beginning to settle down with a steady reduction in rates and new mortgage products being introduced.
Borrowers may feel they have to be patient for a little while before committing, but after enjoying a long period of low interest rates it may be time to accept what could be the ‘New Normal’
Time to look for a bargain and enjoy your holidays closer to home
Buying a Holiday Home
The pandemic saw a boom in staycation holidays and Holiday Home sales that is likely to continue as the cost of living remains unsettled.
This could now be a good time to buy as holiday parks discount their stock and private owners look to release equity to help with the cost of living.
We have a wide range of Holiday Homes for sale across the whole of the UK and now is a great time to look, as this is going to be a very busy market for further information
Contact Team Tempo on 01772 633399.
Tempo Leisure
