First-time buyers advised to ''move quickly''
Thu 20th Dec, 16:34:30 GMT
First-time buyers could be in a good position to purchase a good value property over the next few months, it has been suggested.
Stuart Law, the chief executive of property investment company Assetz, said that people keen to get onto the property ladder "have a golden opportunity" to buy as sellers and developers look to make a quick deal.
"I would recommend they move quickly to take advantage of reducing interest rates over coming months whilst getting a great property price," he advised, explaining that prices will be supported by strong demand for homes in the future.
With the Bank of England reducing interest rates to 5.5 per cent earlier this month, Mr Law predicted that there are more reductions to come.
"I am confident that we will see another two decreases in base rates by March next year, down to five per cent," he said, adding that they could hit four per cent by the end of the year.
This opinion was echoed by Vicky Redwood, an economist at research firm Capital Economics, who told the Daily Telegraph that the group also believed rates could "fall more sharply than the markets currently expect, to perhaps as low as four per cent".
Stuart Law, the chief executive of property investment company Assetz, said that people keen to get onto the property ladder "have a golden opportunity" to buy as sellers and developers look to make a quick deal.
"I would recommend they move quickly to take advantage of reducing interest rates over coming months whilst getting a great property price," he advised, explaining that prices will be supported by strong demand for homes in the future.
With the Bank of England reducing interest rates to 5.5 per cent earlier this month, Mr Law predicted that there are more reductions to come.
"I am confident that we will see another two decreases in base rates by March next year, down to five per cent," he said, adding that they could hit four per cent by the end of the year.
This opinion was echoed by Vicky Redwood, an economist at research firm Capital Economics, who told the Daily Telegraph that the group also believed rates could "fall more sharply than the markets currently expect, to perhaps as low as four per cent".
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