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Everyone at Fox Estates would like to wish you all the very best Christmas you can possibly have.

Let's hope that 2022 is kind to us all.

Please take care.

The Bank of England has increased interest rates to 0.25% in a bid to rein in rampant inflation despite mounting fears over the impact of the Omicron variant of coronavirus.

Members of the Monetary Policy Committee (MPC) voted eight to one to raise rates from the historic low of 0.1%.

It comes as the pressure has been building on the Bank to bring the soaring cost of living under control, with official figures this week showing the Consumer Prices Index jumped to 5.1% - the highest level for more than a decade.

In the minutes of the decision, the Bank warned that inflation could now peak at 6% in April, while it also downgraded growth outlook to 0.6% in the fourth quarter from a previous forecast of 1%.

It said: "Most of the committee judged that an immediate small increase in the Bank Rate was warranted."

"The decision at this meeting was finely balanced because of the uncertainty around Covid developments. There was some value in waiting for further information on the degree to which Omicron was likely to escape the protection of current vaccines and on the initial economic effects of this new wave. There was, however, also a strong case for tightening monetary policy now, given the strength of current underlying inflationary pressures and in order to maintain price stability in the medium term."

Rates have been at 0.1% since March last year, when the Bank moved to prop up the economy in the early days of the pandemic.

The rise marks the first rates increase since August 2018 and just the third since the financial crisis.

The Bank of England has announced it plans to relax mortgage lending rules next year.

It wants to remove a rule that means borrowers have to prove they can meet payments on their lender's variable rate if interest rates go up to 3%.

It will consult mortgage lenders and other industry parties early next year about withdrawing the rule.

Zoopla

As a general rule, the housing market always slows down during the winter months, especially December. From Boxing Day onwards, it starts to speed up again.

The New Year is usually one of the busiest times for agents and this year is expected to be no different. 

First-time buyers hoping to get on the property ladder next year may be disappointed as Zoopla predicts property prices will rise by 3% over the course of 2022.

But for those looking to sell their house, January could be the ideal time to list their property as it's statistically the best month to sell. The weather is improving, the evenings are lighter and there are no holidays or events in the spring that have the potential to be financially challenging. This makes spring the perfect time to think about the market as people begin to think about future events such as the enrollment into schools and creating stability in lieu of the winter months ahead.

Express News

A fast internet connection is now one of the most important factors for homebuyers.

When asked for the single most important factors for homebuyers:

23% said the size of the property

20% said broadband quality

18% said the number of bedrooms

10% said the age of the property is

9% said transport links

In many cases, customers feel that good internet is a 'must have'. This has come about because of the pandemic, where people began working from home so good internet connection was vital. A good internet connection can potentially increase the value of a property.

BBC News

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Customer Reviews

  • We are 100% satisfied and cannot recommend Fox Estates strongly enough. The team were extremely professional, friendly, and approachable from the minute we asked for a valuation right until completion. Their knowledge of the local area was spot on and made the difference on the sale of our house. We are grateful to Chris in particular for his attention to detail, responsiveness to emails and a willing pro-activeness to help keep things moving. I would not hesitate in recommending Fox Estates to my friends and family..

  • Chris Fox put my house on the market on June 13th and advised me to have an open house. 26 people viewed the property and I had 6 really good offers. By 3rd of August we had completed!Chris guided me through the sale with professionalism, integrity, friendliness and his extensive knowledge which can only come from spending 35 years doing a job he is still clearly passionate about.

  • Chris is very efficient and professional at all times. He made the sale of our property effortless and acted beyond the call of duty on our behalf.

  • During my career I have come across many estate agents and Chris really is a true professional, with the highest standards of integrity and professionalism I have seen. As well as having referred him to my own clients and had excellent feedback, I have personally used Chris to sell my property and I have been extremely impressed, and would recommend him to everyone.

  • I instructed Chris to sell my house and when he found a buyer the sale went through in just over 6 weeks. His service was excellent and I would recommended him to anyone. A few months later my mum instructed him to sell her house and again he found a buyer and the sale progressed to completion without a problem. Chris is very knowledgeable and professional and he will give you a very helpful, friendly and attentive service. If you are thinking about buying or selling I would suggest you give him a call

  • I employed Chris Fox to sell my parents home when my mother died last year. He handled the sales with professionalism and respect for my family. He was very eager to secure the right sale and was tenacious on our behalf. He kept us fully informed of all developments during the sale and achieved a very good outcome on our behalf. I would recommend Chris Fox wholeheartedly.

  • AFTER 4 MONTHS OF AGGROVATION WITH ANOTHER ESTATE AGENT I APPROACHED CHRIS ABOUT 2 MONTHS BACK, I EXPLAINED THAT I HATED ESTATE AGENTS, CHRIS HAS GONE A LONG WAY TO REPAIRING THAT IMAGE HAVING DONE A SPLENDID JOB IN SELLING MY HOUSE WITHIN 3 DAYS THE WHOLE PROCESS TOOK 6 WEEKS TO THE POINT I HAD MOVED EXCELLENT ATTITUDE AND A TRUE PROFESSIONAL

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