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It used to be budget day but instead it is ‘Spring Statement Day’. Not much expected regarding the housing market from Mr Sunak today, however, watch this space for updates on any policy or news relating to sales or lettings.
We only have one bungalow left available at St Michael’s gate. Three bedroom detached with driveway and garage. £290,000 Be quick!
March is here and the spring housing market is now in full swing. Traditionally March-June is the busiest time in the UK housing market for new properties going for sale and sales being agreed. It certainly seems this year will be no different with high activity levels in all our branches. If you are thinking of buying selling or letting call us today!
In a controversial move the Bank of England have announced a consultation in to removing or reducing affordability tests for large mortgages. Since 2014 lenders have had to exercise caution when lending at higher ratios than 4.5 times annual salary. With house prices currently at an all time high some would see this as a risky move, however, it could boost home ownership in areas of high prices but high wages.
As we move through 2022 it will become mandatory for more information to be published on written property descriptions. The first change comes in May when it is mandatory to publish the price (seriously?!), tenure information and the council tax banding. As you would expect we at Aldreds already do this! We will keep you updated through 2022 as more updates become available.