Bank of England Base Rate Cut: The Catalyst for Moving
With rates showing a long-term downward trend and the property market heating up this Autumn, now could be the perfect time for you to make your move.
A week after the recent base rate cut to 4.75%, the change is proving to be the catalyst igniting further demand in the property market. The looming end of the Stamp Duty Land Tax holiday on March 31st, 2025, also presents a significant opportunity for first-time buyers and those moving up the ladder to save thousands of pounds.
Evidence suggests many savvy buyers got ahead of the base rate cut announced by the Bank of England on November 7th. The Robinson Jackson Group witnessed the best October on record for over five years since 2020. By mid-November, activity is tracking extremely positively, and we feel it'll be a further strong month.
As we head into the final significant sales period of 2024 pre-Christmas, it's not hard to see why we are so busy with customers. Are you looking for increased living space, a lovely garden, or a more convenient location? If so, there is still time before the festive period takes hold. Here are five reasons why it could be the ideal time for you to contact your nearest sales office and join the movers hitting the market and finding favourable conditions.
Five Reasons to Contact Us:
- Competitive Mortgage Market:
The base rate cut has instilled confidence among lenders, leading to a competitive mortgage market. This means borrowers can potentially secure more favourable terms, interest rates and repayments. In short, your money could go further.
- Concessions on Stamp Duty:
Stamp Duty Land Tax (SDLT) reductions introduced by the previous government will expire on March 31st, 2025. Acting now could significantly reduce your upfront costs if you're a first-time buyer or looking to upsize. FTBs benefit the most with savings of up to £6,250. Imagine what you could do with the extra money. Read our related article here.
- A Wealth of Choice:
With nearly 1,000 properties available, the sales teams across The Robinson Jackson Group have a diverse choice of homes in London and Kent. You're sure to find your ideal home amongst the many properties we release daily to the market.
- A Stabilising Economy:
The UK economy is stable, with improving inflation and unemployment figures. In our experience, a stable economic backdrop provides consumer confidence, which often manifests itself in the property market.
- Affordability on the Rise:
Property prices have not been running away; in fact, they have been subdued for 18 months. This means your budget can stretch further, allowing you to consider larger properties, better locations, and more desirable features.
Why Choose The Robinson Jackson Group?
Our sales teams pride themselves on delivering consistent, exceptional results and a compassionate service. Our track record speaks for itself, with numerous industry awards, including Gold Awards at this year’s prestigious EA Masters. The recognition, coupled with thousands of 5-star Google reviews from satisfied customers, is a testament to our customers' trust in us.
Our Group Operations Director Tony Robinson says, "Winning Gold for five consecutive years puts us in the top 1% of estate agents in the UK. I hope the performance against stiff competition instils confidence in the public that our expertise can be trusted. For buyers, sellers, and investors, there's an element of risk when choosing your estate agent. The awards demonstrate that our customers, past, present, and future, recognise our consistency. When reliability counts, make us your first call when moving home!"
If the positive changes in the property market make you curious about the opportunities for moving home, then now is the time to contact us. The details for your local sales and lettings teams can be found on our website. Our experienced teams are waiting for your call.
All News ≫
