Agents Anticipate ‘Buoyant Winter’ After Interest Rate Cut

With a cut to interest rates announced, agents and house buyers were thrilled to see this change to the market. While it was hoped to see a cut in the rates, there was concern after the Stamp Duty threshold changes that this would not be the case. Seeing the Bank of England’s rate cut from 5% to 4.75% has been a huge shake for the market and has given more buyers the confidence to come forward.

Nathan Emerson, Chief Executive at Propertymark.

As rates continue to decrease, more and more buyers who were withholding from the market are now feeling more confident to take their step onto the property ladder, increasing the market activity and bringing more first-time buyers into the scene. Those who were holding off due to the higher rates are now starting their search again, and while this time of year is where we see a natural slump, the expectation is that demand will carry through thanks to this welcome change to the rates.

With more buyers coming to the market with more secure mortgage rates, now is the time to buy ahead of the New Year, where the market naturally takes off again after the slump of the festive season. If you’ve been looking to purchase a new investment, or a property to live in, but have been waiting for the right time – this is your opportunity to act. With more stable interest rates, getting in ahead of the curve will help to keep purchase prices down, getting your buy in before the competition ramps up those asking prices.

If you’re looking to buy property in Manchester City Centre, this is the time for you to act. Get in touch with our expert property consultants today to find out about the properties we have available, and what you need to know to secure the best purchase you can.