{"id":10321,"date":"2024-07-22T10:54:31","date_gmt":"2024-07-22T09:54:31","guid":{"rendered":"https:\/\/www.craneandco.co.uk\/pages\/?p=10321"},"modified":"2024-07-22T10:54:31","modified_gmt":"2024-07-22T09:54:31","slug":"interest-rate-update-what-buyers-and-sellers-in-hailsham-and-eastbourne-need-to-know","status":"publish","type":"post","link":"https:\/\/www.craneandco.co.uk\/pages\/interest-rate-update-what-buyers-and-sellers-in-hailsham-and-eastbourne-need-to-know\/","title":{"rendered":"Interest Rate Update: What Buyers and Sellers in Hailsham and Eastbourne Need to Know"},"content":{"rendered":"

Property experts say that many people have put their moving plans on hold until interest rates drop*.<\/span><\/h3>\n

Is this the right or wrong thing to do?<\/span><\/h3>\n

Let\u2019s take a look**.<\/span><\/h3>\n

 <\/p>\n

First, some context<\/strong><\/span><\/h3>\n

In its battle to beat inflation, the Bank of England (BoE) has held rates at 5.25% since August last year.<\/p>\n

While some predict the BoE may cut rates when it meets in August, the change, if any, is expected to be small.<\/p>\n

So, yes, we could see a rate cut this year, but it will be modest.<\/p>\n

The BoE won\u2019t want to cut rates too quickly in case inflation surges like it did last year.<\/p>\n

Conclusion: While rates may drop a little bit, if you\u2019re holding out for the ultra-low deals we saw a few years ago, you could be waiting a long time.<\/p>\n

Other issues to consider<\/span> <\/strong><\/h3>\n

Here are some other issues to weigh up when deciding on your next move.<\/p>\n

    \n
  • Currently, properties on the market are competitively priced. There are some very good deals to be had.<\/li>\n
  • If many buyers enter the market at the same time later in the year, there will be more demand and increased competition between buyers.<\/li>\n
  • When interest rates drop, and people can borrow more, property prices tend to rise.<\/li>\n
  • Delaying a move can have a financial cost. If your aim is to move closer to work or family, you\u2019ll spend more on commuting or childcare in the interim.<\/li>\n
  • Property transactions can take longer than you expect to complete. If it\u2019s your ambition to live in the catchment of an outstanding school, it\u2019s good to have certainty.<\/li>\n
  • There\u2019s an emotional cost to putting your life on hold. It\u2019s one thing to delay a move for a few months, but if you\u2019re keen to downsize or upsize, waiting means you\u2019re left in limbo.<\/li>\n<\/ul>\n

    So, is it wiser to wait or more astute to act? Ultimately, only you can decide what\u2019s right for you.<\/p>\n

    But when you feel it\u2019s time for a change, we\u2019re here to help.<\/p>\n

    For more insights about the local property market, contact us here at Crane & Co\u00a0today.<\/strong><\/span><\/h3>\n

    * Source: Knight Frank<\/p>\n

    ** This article is an assessment based on the data and research available at the time of writing.<\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Property experts say that many people have put their moving plans on hold until interest rates drop*. Is this the right or wrong thing to do? Let\u2019s take a look**.   First, some context In its battle to beat inflation, the Bank of England (BoE) has held rates at 5.25% since August last year. While […]<\/p>\n","protected":false},"author":3,"featured_media":10322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,6],"tags":[26,25,29],"class_list":["post-10321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice-for-sellers","category-news","tag-buyer","tag-jerry","tag-seller"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/comments?post=10321"}],"version-history":[{"count":1,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10321\/revisions"}],"predecessor-version":[{"id":10323,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/10321\/revisions\/10323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media\/10322"}],"wp:attachment":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media?parent=10321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/categories?post=10321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/tags?post=10321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}