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BloglinesArchive for December, 2008
Winkworth 2009 Property Market Predictions
December 17th, 2008
We have seen a 50% reduction in sales transactions from 2007; however, there has also been a 30% increase in rentals activity, as buyers watching the economy unfold are choosing to rent while they await the bottom of the market. Sales prices have also gone down by 20%, compared to last year. I believe prices will fall a further 5-10% (following an historic 30% drop in price during recessions). People moving up the property ladder, who have significant equity, will take a four year view on buying a property.
Posted in Franchising, Industry-related News, Property-related News, UK Market Comment, UK Press Releases, Winkworth Office News
December Interest Rate Cut Comment
December 4th, 2008
Winkworth welcomes the news today that banks have dropped interest rates for the third time since April this year, this time by one percent. Base rate is now 2%, making it the lowest level since 1951. While this further rate cut shows continued good sentiment by the banks to alleviate credit tightness, Winkworth hopes that this latest monetary easing will be passed on and banks will be persuaded to start lending again.
Posted in Industry-related News, Property-related News, UK Market Comment, UK Press Releases
Winkworth Basingstoke Opens
December 1st, 2008
Despite testing times in the property market, Winkworth opened their 84th office today, in Basingstoke.
‘We are excited about opening in Basingstoke as Basingstoke and its surrounding areas are key markets for our London clients looking to move out of London into the commuter belt. In the current economy, this is particularly true as alongside young families looking to move out of London we are seeing additional demand from those taking early retirement and relocating out of London.
We aim to take advantage of the current market by setting up in these strategic locations, in boom times these opportunities were not available.’
Posted in Franchising, UK Press Releases, Winkworth Office News