Updates@HomesOnLine

Update@HomesOnLine

Issue Three- 14/07/2017

Update@HomesOnLine is a property newsletter produced by Homes On Line,This week we look at the prospects for interest rates, it has been 10 years since we have had an interest rate rise, rates in the US are rising, will they rise here soon ?

What Next For Interest Rates ?

It's been a funny few weeks, much has been said about Interest rates, by members of the MPC, the governor of the Bank of England himself and the bank's chief economist Andy Haldane. It was Pat McFadden MP, who first likened Mark Carney to an “unreliable boyfriend” for giving mixed messages for interest rate guidance, In this issue's article I consider when rates might be about to increase, and whether it might be a good time to fix or update your mortgage arrangements. more >>

unreliable boyfrients

In the News,

The Halifax price index for June 2017 shows that over the quarter prices fell by 0.1% over the month fell by 1% but were still up 2.6% on this time last year, with an average price of 218,390.

UK housing market at its weakest since immediately after Brexit result, say chartered surveyors

The BBC this week report that agents have the lowest stock of homes for 40 years, taken together, this might suggest that over the period of the election, people have been "waiting and seeing" rather than joining the market. with the onset of summer it seems likely that the market will stay subdued until the autumn.

Despite stories that the property market is slowing, we hear this week that while it seems first time buyers account for almost half of all mortgage-financed purchases, and average first time home has reached an all time high.

Bad news for affordable housing in the capital, with the Battersea power station redevelopment reducing affordable housing from 636 and 386, despite massive profits. The Mayor of London Sadiq Khan brands Wandsworth Council ‘shameful’ for decision.

 

Homeowners rush to switch mortgages: these are the best deals over two, three, five and 10 years. Readers considering changing their mortgage would be well advised to seek professional help, we have advisors who can help with mortgages, equity release or right to buy.

Finally, this weeks property of the week ....

Not something to buy this week, even to rent, more like a place to visit over the summer. Fans of Netflix tv series Narcos, will be familar with the exploits of drug lord Pablo Escobar, now, his enormous and luxurious 12-bedroom penthouse in Medellin, Colombia is listed on rental site Airbnb. The stay is expensive, but immensely luxurious, more details >>

HOUSEPIC


Next Time

Summer holidays are rapidly approaching, it's that time of the year where we can take stock. As children move from school to school it can be a time to consider whether moving home is appropriate, or just whether it's time for a move. With the current lull in the market there seems little urgency to rush, but whether this will continue past the traditional September rush to market remains to be seen. The election result along with Brexit has made some people stop and think. Valuations are certainly high, after years of growth, could we be reaching a top ? Or is this just a pause, while politics and Brexit are resolved ?

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Gerald de la Pascua

I Studied Computing and informatics at Plymouth University followed by a Masters Degree. I spent some time working in IT Companies, until the Emergence of the Internet. I founded Homes On Line over 20 years ago and have been involved in the on line property sector ever since. Together I know we can really make a difference!
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