The number of houses sold in a region can impact how much prices rise or fall compared to other places.<\/p>\n
On Anglesey, which saw the biggest annual rise in house prices of 22.2%, the market can be a mixed picture.<\/p>\n
Richard Tuke has lived on the island for 20 years but now wants to sell up and live in Spain.<\/p>\n
“Anglesey has always been a desirable area for people to live,” he said, adding he thinks the market is “not as bad as it was”.<\/p>\n
After several months of little interest he has twice reduced his asking price, from the initial \u00a3475,000 to \u00a3425,000, and that has made a difference.<\/p>\n
“We’ve had a wave of viewings in the last two weeks and a lot of strong interest, so I think we’re at the right price level now,” he said.<\/p>\n
The turbulence in the Middle East and the knock-on effects on oil and gas prices have already led to higher rates for fixed rate mortgage deals, and the Bank of England is widely expected to increase interest rates, making borrowing more expensive in the months ahead.<\/p>\n
“If you look back over the year to date, the market’s shown remarkable resilience in spite of those pressures,” said Mottram.<\/p>\n
“I think that’s broadly likely to continue as we look forward.”<\/p>\n
Mottram said that despite building cost of living pressures, there were a variety of options for would-be home buyers.<\/p>\n
“There’s still going to be pressures,” he said, but “if people are worried, the best thing they can do is talk to their lender or talk to a mortgage broker to understand their options”.<\/p>\n","protected":false},"excerpt":{"rendered":"The number of houses sold in a region can impact how much prices rise or fall compared to…\n","protected":false},"author":2,"featured_media":807019,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,56,54,55],"class_list":["post-807018","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/807018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=807018"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/807018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/807019"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=807018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=807018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=807018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}