Welcome to our new monthly feature for the Hunters newsletter; each month we aim to bring you an update on the sales and lettings market and our predictions on what to expect in the forthcoming months.
With the upcoming election on the 7th of May everyone's eyes are on the property market. Two of the main parties pledge to build new homes to help all property owners and renters. Whichever party comes into power we need more homes, that is clear. We are growing as a society and our needs for housing are as strong, if not stronger than ever.
Hunters National Sales Director Martin Robinson was asked for his views on the sales market. He says he is confident in saying that, “whether you are buying or selling there is good news! For buyers interest rates are low, banks are now prepared to lend you money at a more reasonable rate, even with a 10% deposit and you can receive an even better rate if you can put a larger deposit down. There are many really great properties becoming available, before you say anything I know you would like more to choose from, but you can't have everything!”
In terms of lettings there is an increase in demand for property in the UK, many people have chosen to rent as a lifestyle choice. As the sales market has improved accidental landlords have sold properties however, there still remains a high demand for rental properties and this demand with a reduced supply has resulted in higher rents in many areas.
Recently it has been announced that many can release capital from pensions and purchase property, this is great news for the industry, both sales and lettings, and is a great opportunity for buy to let.
Glynis Frew, Hunters Managing Director
Look out for next months feature on the sales and lettings market or click here to visit our website.