Number of Homes Sold RISES in May as Interest Rates Remain on Hold

It’s a seller’s market right now in the real estate industry when it comes to the inflation of housing prices. However, experts are now warning to keep an eye out for dips in productivity in the future. In May, we recovered from a dry spell with only .05 less in sales when compared to previous years. Unfortunately, this is still a bit behind, so real estate professionals are urging to take caution in case it somehow decreases in the future.

Key Takeaways:

  • The Bank of England has held mortgage interest rates at 0.5%, which is positive news for people looking to buy a property or remortgage their current one.
  • According to Brian Murphy of the Mortgage Advice Bureau, the rate of property transactions this year are holding steady across the UK.
  • Some UK real estate experts feel that there is a small window where buyers may be able to negotiate more favorable deals in combination with the current low fixed rates being offered.

“Some areas are seeing house price growth and increased buyer activity while others are dealing with fewer buyers and lower prices.”

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