Do you think interest rates will rise?
With the Bank of England set for its monthly meeting to decide interest rates tomorrow, the property market remains a hot topic of debate.
The latest house price survey from Halifax released yesterday has shown that the market remains strong.
It said that prices rose 9% in November compared to the year before although the pace of rises was slowing on a monthly and quarterly basis.
The average house price is now £204,552, according to the Halifax.
With the economic recovery continuing, unemployment falling and wages rising, property is still very much in demand.
We’ve certainly noticed a sustained demand for our services, particularly for surveys. We have been busier than ever going into December.
The fierce competition for properties means that many prospective buyers want a rapid turnaround for survey reports to ensure that they don’t miss out on their dream home; something we have responded to as a business to provide the best possible service for our clients.
Continued low interest rates have also contributed the ongoing strength of the market.
Most analysts think it very unlikely that the Bank of England will increase rates tomorrow – especially as we are so close to Christmas.
Indeed, most expect a rise only to come in 2017 although a lot can change between now and then.
Visit the BBC website at http://www.bbc.co.uk/news/business-35037309 for more details and the interest rates rise announcement at 12noon tomorrow.
You can also follow us on Twitter under @McAndrewMartin, like us on Facebook and connect with us on LinkedIn.
You can also call us on 02392 697 193 or email [email protected].
With the Bank of England set for its monthly meeting to decide interest rates tomorrow, the property market remains a…