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Archive: March Salisbury Property Hub Blog monthly update – March 2022
Welcome to your first Mortgage and Property update from Your Mortgage Expert - the Salisbury Property Hub. Each month, we aim to update you on the latest developments in the housing market. Covering everything from mortgage rates, house prices, legal updates and news for landlords. From both a national and a local perspective. We will be pulling the content for this together from our local Salisbury property partners – what we like to call the Salisbury Property Hub. So you can be sure you are getting the latest information from the experts who understand it best. If you would like to speak to us about anything you’ve read today, please do not hesitate to get in touch.
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Mortgage Market update
Adam Nanson, Impartial Mortgage Adviser at Your Mortgage Expert comments: “Earlier this month, the Bank of England increased the base rate to 0.75% in an attempt to curb inflation. Most financial experts are now predicting further interest rate rises over the next 12 months* and say inflation is likely to stay higher for longer**.
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House prices update
Adam Nanson, impartial broker at Your Mortgage expert comments: “Halifax’s February House Price Index showed that house prices rose at the fastest rate since the summer of 2017****. Continued high housing demand for over a decade has meant it has been a seller’s market with low numbers of properties boosting the market.
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Update for landlords
This month for the Salisbury Property Hub Blog we have Lou Fletcher, owner at Piccolo Sales and Lettings in Salisbury gives an update for landlords: “So far this year, we are not seeing any sign of the rental market slowing down. Demand across the country continues to be high and this is pushing rental values up. We are seeing many landlords choosing to sell at the moment and this is putting additional pressure or renters who are really struggling to find alternative property.
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Legal Update
Tim from Bonallack and Bishop Solicitors in Salisbury comments on why conveyancing transactions are currently taking longer than usual: “As both an investor myself, and a solicitor who owns a law firm with a 17 strong conveyancing team, I can confirm that unfortunately, the answer is yes. Although things are improving, the average conveyancing transaction is still taking longer than it did pre-Covid.
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Local market update
Lou Fletcher, owner at Piccolo Sales and Lettings in Salisbury gives an update for Salisbury property owners and buyers: £Salisbury has seen the highest house price growth of any other UK city. Between June 2020 and 2021 Salisbury had a 36 per cent surge in house prices, which is over three times the national average.
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Your Mortgage Expert News
It’s great to put a face to a name. So, this month we’ve been adding new team members and updating the photos on our Meet the Team page. If you want to find out a bit more about our team or get in touch with a particular team member, you’ll find all our contact details here.
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Sign up to the Salisbury Property Hub Blog
Thank you for taking the time to read this month’s Salisbury Property Hub blog. We hope you found it useful and has helped you make informed choices with regards to your mortgage and property journey. If you would like to sign up to receive this blog every month, please leave your contact details below and we will add you to our subscription list. As always, if you decide you no longer want to hear from us, you can unsubscribe at any time.
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Local property partners
At Your Mortgage Expert, we work hard to build valued connections with local and national businesses. Our carefully selected network of property partners are business contacts that are renowned for their customer service. While we take care in choosing local property partners to recommend to our clients, we cannot be held responsible for the service they provide. Find out more about our local property partners.
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