Alexander Hall9 Feb 2024 07:19
Well, its look like Alexander Hall are also smashing it out of the park as well as every other area under the Foxtons umbrella.
Expect much more of this as the year progresses and even more so after the March budget where the government will throw everything at the UK housing market.
Here's what Mr Gittins had to say yesterday :-
'Guy Gittins, CEO of Foxtons, commented: “Interest rates being held at 5.25% since September 2023 has helped to both steady and stimulate the UK property market, with buyers reacting positively to a greater degree of economic stability and a reduction in mortgage rates. Since the start of the year, weekly mortgage referrals to our mortgage broker, Alexander Hall, have been higher than any weekly level seen throughout 2023.
“This has led to an improvement in mortgage approval numbers in recent months as buyers have acted with urgency to secure these lower rates while they last, while also taking advantage of their improved position in the market with respect to their purchasing power.
“In turn, this has caused mortgage approved house prices to increase and today’s figures from Halifax provide further evidence of this growing market momentum.
“However, it’s important to note that interest rates remain at 5.25% and there is no guarantee of when this will change.
“In the meantime, those looking to purchase with the help of a mortgage are best advised to do so with the support of an experienced mortgage broker to ensure they secure the best available rates and avoid overpaying on their monthly repayments.” '
And the article in full :-
https://propertyindustryeye.com/property-industry-reacts-to-latest-rise-in-uk-house-prices/
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