Good news on inflation! Some better news for the economy with inflation falling to 7.9% - a bigger fall than expected! Drive mainly by lower energy prices. Food inflation also started to fall back but does remain very very high. This may mean that future interest rates are less severe and fixed mortgage rates (that have expected rate changes already built in) could soften. Time will tell and watch this space!
Good bye to the old and in with the new 13 years ago, Aldreds took a big leap and came away from paper based systems. We signed up for a client relationship management system (CRM) called Expert Agent. This took some getting used to after years of files and different coloured paper! However, once we had adjusted and our systems were in place we reaped the rewards through better office systems, improved email contact with sellers and buyers and steam lined office practices. This week we jump to ALTO. A more modern replacement. This will allow us to combine our lettings and sales systems giving us more straight forward operating procedures.
Base rate rises have effect on market – but sales are still being agreed! Have the Bank of England base rate rises effected activity and house prices? Absolutely. Are properties still being sold? Definitely. There is no doubt the cycle of interest rate rises that started in the summer of 2022 have adjusted the market. Higher mortgage payments will have an effect in many ways including bringing people to the market looking to downsize and making families hold of on their moving plans. Is the housing market dead at the moment? Not at all. Our Gorleston office is about to record their strongest month on new sales since summer 2022. This has been achieved by working hard with our vendors on marketing and pricing strategy whilst proactively matching buyers and sellers. How does the market compare to post credit crunch 2008? – At the moment it is stronger. Banks are still keen to lend but at higher rates. Mortgage availability is good. Still time to move in 2023. If you are thinking of selling give us a call!
New Starter in Gorleston Office! A big Aldreds welcome to Louis Sansom Williams who has joined our team in Gorleston office. Louis is brand new to estate agency and is joining us as a trainee. In the two days he has been with us he has made a flying start and is showing great enthusiasm! All the best Louis!
Good luck for the future All the best for the future to Bronwyn Moxey who is leaving us for pastures new. Bronwyn joined us during the pandemic and worked in both rentals and sales departments in Great Yarmouth office. We wish you the best for the future! New starter pending! Watch this space!