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For This Week in Wealth I caught up with property expert Eyeedul Haque on the recent Bank of England rate cut and April's property price numbers. We explore how interest rate changes affect buyer behaviour, mortgage rates and the rental market, while also analysing transaction trends and approval rates. Find out why Eyeedul believes now is the time to act quickly while it's still a buyer's market.
- Interest rates have been reduced to 4.25%.
- Inflation is forecasted to rise to about 3.1%.
- The Bank of England aims to encourage spending to avoid recession.
- Mortgage rates are dropping, making it a good time to buy.
- House prices increased by 3.4% year-on-year according to Nationwide.
- Rents have increased by 1.2% nationally, but decreased in London.
- Transaction rates spiked due to the end of the stamp duty holiday.
- It's crucial to act now in a buyer's market to secure properties.
- Understanding fees is essential when considering mortgage options.
- The housing market is expected to see more buyers as rates drop.
Chapters
00:00 April Property Price Overview
03:05 Interest Rates and Economic Impact
05:50 Mortgage Rates and Buying Strategies
08:58 House Prices and Market Trends
11:58 Rental Market Insights
15:05 Transaction Trends and Approval Rates
18:04 Final Thoughts and Future Outlook
Connect with Eyeedul Haque
Website: https://myproperty-consultant.london/
Instagram: https://www.instagram.com/eyeedul_mypropertyconsultant/
Facebook: https://www.facebook.com/eyeedul.haque/
Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research.
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