Positive Property News - RE/MAX Estate Agents Barry

50% of buyers in Wales are to be confirmed to be cash buyers by Zoopla and at RE/MAX Estate Agents Barry. We can confirm we are seeing the exact figures.

Due to the rate hike puts first-time buyers in a tricky position, with lending on LTV being high and deposits sitting at 5-10% against 90-95% LTV with rates sitting at 6.6%, which is a struggle for anyone. Still, we are registering. 50+ First time buyer applicants each month, so the question is, what is happing to the market?

The Property Market Wales

Average house prices increased over the 12 months in Wales by £213,000 Wales (2.0%) from the previous 4.1% decrease from 12 months. That is not factoring in the 12 months before October Dooms Day news of increases up to 6.87% average in Wales.

Click here to read The Property Market Wales.

What happens if the Bank of England rate goes up?

Speaking with Kyran Roberts, a senior partner at Affinity Financial, to understand the market and what the forecast is with inflation, he has provided some comments for us to reflect on.

"ONS data published this morning stated that UK Inflation fell to a 16-month low - some welcome news. "

" In May, core inflation came in at 8.7%. Last month it was 7.9%. The drop in June was more than economists and capital markets had forecast. "

Click here to read What happens if the Bank of England rate goes up?.

Conrad's thoughts on the property market

" With over a decade of experience and working through similar times, we have always bounced back with the property market aggressively."

" This is no different. We are trending with the times of buyers deciding when is the right to buy and sellers asking when is the right time to sell. The barriers are the same with uncertainty with the rates controlling the decision of home movers."

Click here to read Conrad's thoughts on the property market.