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
House prices will rise 2 per cent next year as confidence returns to the market, economists predict.
Howard Archer, chief UK economist at accounting giant EY, said the Tories thumping win would boost house price growth from its current level of about 1 per cent a year. He said record low interest rates would also help homebuyers although experts now think there is less chance of a rate cut by the Bank of England. Policymakers are tipped to keep interest rates on hold as they wait to see the impact of Boris Johnson's hefty majority. Economists think two policymakers - Michael Saunders and Jonathan Haskel - could still vote to cut rates.
Ruth Gregory, economist at Capital Economics, said it was likely that rates would remain unchanged in 2020 before rising to 1 per cent in May 2021. She said GDP could increase to 1.8 per cent in 2021 as spending plans fuel economic growth.
Archer said: 'Housing market activity could be given a modest lift in 2020 if the Government introduces specific measures aimed at boosted the sector in the Budget. Low mortgage interest rates and a shortage of properties for sale should provide some support to prices.'
By Helen Cahill
Winter is upon us and soon, temperatures will be taking a tumble. To make sure your house stays toasty warm, have a look at our winter checklist.
1 Check your boiler insurance. A new boiler can cost upwards of £3000. Some home insurance policies will include Home Emergency cover but others will require you to buy it as an add-on. These usually provide cover for boiler breakdowns.
2 Get your boiler serviced annually. Some cover will include a free service each year, and most insurers will not pay out if the breakdown is due to 'wear and tear'.
3 Lag cold pipes - this would stop them from freezing and avoids blockages.
4 Make sure your guttering is clear of debris. This prevents damp from getting into walls, which can cause damage.
5 Going away over the festive period? Set your heating to come on for an hour or so each day to stop the pipes freezing.