So where do we see the property market going, specifically in Sales?
We are seeing a 30% increase in people ‘looking’ at properties through Rightmove and we are surmising that the recent announcements are the cause.
The recent press reports that the Government may cut-stamp duty to help the first-time buyer market would be helpful in addition to the news that inflation and lessening interest rates may too have caused this rise in property enquiries.
These could both be big game changers not to mention the thousands of pounds that buyers could potentially save.
The Bank of England and the Chancellor will have very little wriggle room but to do something about interest rates. Scotland recognizes that help in the form of a Stamp Duty Tax cut could be an answer.
It’s unlikely to have an immediate effect, however it bodes well for the market next year.
Who knows? As always, only time will tell.