October Property Market Report
The goal of our October Property Market Report is to provide the right information to our clients. In the report, you will find economic data, recent news reports and city overviews from each of our investment locations. For more information on our investment services, please visit our Investment Website.
TO VIEW THE FULL PROPERTY MARKET REPORT, PLEASE CLICK HERE.
Property Market Overview:
The Bank of England raised interest rates for the first time in a decade on Thursday. This was as a response to the slightly higher than expected 3% inflation. According to the credit rating agency Moody’s, this move will not have negative effects on the housing market, as it is more resilient than is believed.
The British Pound:
Looking at the big picture the pound is still devalued compared to the pre-Brexit peak (94.50). This means that purchasing property in the UK with foreign currency still gives the investors fantastic value for money.
An article you may have missed:
The Telegraph noted last month that ‘Scotland powers up as Edinburgh jumps into first place’. The Scottish housing market has accelerated, with Edinburgh recording the fastest house price growth of all UK cities while the rest of the market is “stuck in neutral”, according to Hometrack. Edinburgh has overtaken northern cities such as Manchester and Birmingham, with house prices growing 6.7pc in the year to September.