The Property Podcast TPP609: November Market Update
9 snips
Nov 14, 2024 Donald Trump's political comeback stirs questions about its impact on the UK property market. Recent interest rate cuts could influence mortgage rates and house prices positively. Current trends reveal a gap between asking and sold prices, with a slight increase in rents. Potential delays in leasehold reform leave many uneasy, while a council's management raises eyebrows over inconsistent property handling. Finally, the discussion wraps with a look at prediction markets, providing insights into future property developments.
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US Election Impact on UK Property
- Trump's victory is perceived as advantageous for the UK economy and housing market.
- However, the US election's impact on UK property is likely insignificant compared to other factors.
Rate Cuts and Inflation
- Rate cuts in both the UK and US, despite inflation worries, have brought the Bank of England's base rate down.
- This cut to 4.75% is likely the last for the year; the Bank of England is managing expectations.
House Price Growth
- UK house prices show steady growth in 2023, with Rightmove, Nationwide, and Halifax reporting small monthly increases.
- Halifax data uniquely suggests an all-time high, but considering inflation reveals a different picture.