Inflation is up.............
With inflation rising, what does this mean for the housing market?
With the news that inflation rose to 3.5%, the highest in a year, this could have implications on the housing market. Hopes of another interest rate cut in the coming months have most certainly been dealt a blow, with inflation being higher than expected.
The latest data from the Office for National Statistics (ONS) shows the consumer prices index (CPI) rose to 3.5% in April, from 2.6% in March.
The figure is higher than many economists expected and comes just a week after the Bank of England cut interest rates.
Until inflation is under control, it could be that any planned drops in the mortgage rates are put on hiatus. This in turn could have an impact on mortgage pricing and demand from homebuyers.
The property market plays a central role in boosting overall growth in the UK. From our own point of view, we are still busy with a variety of property being sold, but as always, this does come down to correct pricing, taking the current and ever changing market into account. "If your property price is aligned with the market, the magical buyer always appears" and this has certainly been the case this year, with homeowners having to adjust to a turbulent market. With approximately 6 - 8 weeks left of good selling time before the sales market slows down slightly for the summer holidays, we expect momentum to continue, despite the economic uncertainty which has been prevalent for the most of 2025.
If you are looking to sell your home or currently have your property on the market, with no buyer in sight, please do call our motivated sales team on 01895 677766.