Double boost as interest rates remain low
In a second boost for the property market this week, interest rates have been kept at their record low.
The Bank of England’s Monetary Policy Committee has held them at 0.5% for another month, continuing a run which goes back to March 2009.
It is another lift for the market after the Chancellor George Osborne announced a shake-up of stamp duty in his Autumn Statement earlier in the week.
Many commentators think that interest rates won’t now rise until later next year, probably after the general election in May.
With inflation low – as we’ve seen falling prices at the fuel pumps, for example – there is less pressure on the Bank to increase interest rates.
Figures out this week also showed that predicted growth for 2014 has been upgraded to 3% from a previous forecast of 2.7%.
Growth of 2.4% is forecast for next year.
The low interest rates and overhaul of stamp duty will benefit many of our clients, including the many people who instruct us to carry out surveys.
We’ve seen an incredible 40% increase in demand for surveys in 2014 but have also recorded a big rise in demand for our other property-related services for private, public and commercial clients.
Our expert, experienced and friendly staff can offer a comprehensive range of support, including a wide range of comprehensive surveys, architecture, design, project management, risk assessments and conservation.
We also have our own in-house structural engineer with many years of experience.
You can always contact any of our team for a free no-obligation discussion about how we can help you.
Call 02392 697 193 or email [email protected] or visit our Team page on this website to contact an individual member of staff directly.
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In a second boost for the property market this week, interest rates have been kept at their record low. The…