Today’s budget, which has again been somewhat a focus of attention with investors and prospective buyers in the housing market over recent months, has once again turned out to be less dramatic and threatening than it could have been.
This government is clearly focused on providing greater support to those who need it at the more vulnerable levels of the market and their announcement and commitment in increasing council housing stock, reducing cost of living through subsidies on VAT for electricity, as well as council tax subsidies, are all to be welcomed and supported.
There were no major statements likely to dramatically put at risk the chance of increased interest rates or rapid inflation, which is beyond our control with international events taking place in respect of the Middle East and fuel prices.
The interest rate concerns are mainly taken from the Bond markets and today’s budget shows little threat or concern in that regard.
The principle of socialism continues with the government supporting the weak and poorer levels of society, which is also to be congratulated. However, many continue to have concerns in the ability to meet the very high costs of borrowing and interests that we are paying, which is greater than the cost of running the whole budgets of the education department, as well as the army, and this more of a concern for those wanting to invest in the UK.
I welcome the fact that the budget has been, in many senses, uneventful or dramatic, so we can continue to sail through the housing market with more steady, calmer waters and deal with only international threats and concerns, rather than national policy.
It is pleasing to see that our offices have been very busy over the last few weeks, and some of our sales results are increasingly higher than expected. November proves to be a very popular sales month for us, before we quieten down over the festive period in December and the welcome into the new year.
I am sure that a number of new houses will be looking to come onto the market for sale and it will be those people we need to speak to now, as we should be able to more accurately forecast what pricing and values you can achieve.
Please do not hesitate to contact our offices on 0191 213 0033 if we can assist and guide you through the maze of house selling, renting and investing.
Yours sincerely,
Duncan G. Young
Chairman
SANDERSON YOUNG