What will happen to the London Property market now interest rates have risen
Now that interest rates have risen for the first time in a very long time, what will this mean for the property market in London? Over the last few weeks, estate agents across London have reported increased activity which is likely to have been instigated by the expectation of a rise, and therefore has spurred buyers on to finding a property and locking themselves in to avoid further rises.
This is likely to be been more prevalent now, and with asking prices already having eased off a little in greater London, and as much as 20% in Prime Central London, Stacks Property Search London believe that now is the moment to get on and buy a property before you miss the boat. Its is likely that there will be only a slight pause in market activity over the Christmas period and a surge of buyers coming out of the woodwork to buy.
Using a buying agent in this market is essential to ensure that you don’t get caught up in the ‘stampede’ and that you are buying the right property in the right location for you, and at the right price!