The bank of England has announced an emergency cut in the base interest rate to shore up the economy during the Coronavirus crisis.
The cut, from 0.75 per cent to 0.25 per cent, was announced at 7 am on 11/3/2020; it takes borrowing costs back down to the lowest level in history, and may help agents and the housing market following reports of reduced demand and buyers pulling out of viewings.
Interest rate changes are usually announced on on Thursday's after regular meetings of the Bank's monetary policy committee; this morning's shock announcement suggests that the indicators guiding the MPC - including ones relating to the housing market - have shown significant falls even at this early stage of the virus outbreak in the UK.
Make the property warm and inviting. Create a welcoming ambience with a lovely warm house by turning on the heating prior to viewings. Making an effort can make all the difference.
First impressions count so add some hardy winter plants to your garden or balcony. They add a cheery, personal touch, plus it's more welcoming and shows that the property is cared for. Make sure lawns are neat and tidy and patios are clear of hazards.
Getting the lighting right is essential to creating the perfect feel to your property. Make sure all light bulbs work and think about small table lamps rather than a bright central light if viewings are booked for the darker evenings. This will create a cozy, welcoming atmosphere. Also, for safety and aesthetic reasons, ensure your property is well lit outside.
Remove unnecessary clutter and mess. If you have an abundance of children's toys, there are cheap attractive storage containers that you can buy to store them in, which in turn will make the room look bigger. Create an attractive open space which will be more welcoming for potential buyers.
At this time of year there is less competition and buyers tend to be more committed and more likely to venture out in bad weather.
Check to see if there are any maintenance problems that need fixing. This will keep the house in tip top condition, not just for the winter but for the year to come.
Be aware that bad weather may cause some access problems, particularly snow and ice. Salt and grit on drives and paths will ensure there are no accidents. In wet weather, you can ask your agent to provide overshoe covers to keep carpets clean.
A belated Happy New Year from everyone at Fox Estates.
At the start of the New Year, Fox Estates hit the ground running. We went live with four new properties on 2nd January and had sales agreed on three of them within two weeks. In the weeks since, we have been extremely busy with valuations, listings, viewings, exchanges and completions.
Chris Fox predicted a mini boom for 2020 last year and it appears he was right again as according to a report by Zoopla, buyers have flocked back on to the market since the election.
The number of people inquiring about buying a home was 26pc higher between December 23rd and January 19th than in the same period a year earlier, the report said. House prices across the UK cities were up 3.9pc on a year earlier, the biggest rise for two years. The report is a further sign that there has been a 'Boris bounce' since the general election, which means that households who were holding off moving are returning to the market.
Everyone at Fox Estates would like to wish all our past, present and future customers a very Merry Christmas and a peaceful, healthy and prosperous New Year.
Why fit in when you were born to stand out!
by Dr. Seuss