By Nick Taylor of Hadley Taylor in Norwich
The New Year has started very much as the old year ended in our office with more buyers than sellers. Stock levels are low but there are always serious buyers around for those few owners who decide to take the plunge and I’m sure as the weather improves we will see a few more for sale boards in our area. The latest economic indicators have not been very encouraging with inflation rising and economic growth slipping back. The upshot of these rather depressing figures will mean a further delay in any increase in interest rates and little chance of wage inflation and consequently of house price inflation for the foreseeable future. So is it a good time to make a move in the property market? Well if you’re buying the answer is definitely yes because house prices and mortgage rates haven’t been as low as this for years and if you’re selling the answer is also yes because delaying a sale for two or three years won’t necessarily mean you’ll get a better price. In other words prices in
the better residential areas of Norwich have been stable for some time and will remain stable for some time to come and this represents a secure environment in which to make what is for most people their biggest financial commitment.
Nick is on 01603 250248