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Rate Drop Will Boost Property Markets

4th August 2005 | back to article listings BACK    print this article PRINT

Nick Clark, Managing Director of the Property Investor Show (23 – 25 September, ExCeL, London) responds to today’s announcement that interest rates will be cut to 4.5%:

 

“Today’s move to a 4.5% base rate will act to boost activity in the housing and buy-to-let markets. We’ve had twelve months of unchanged rates and inertia was beginning to set in to many parts of the market. With all the speculation about a forthcoming rate drop, many buyers and sellers have been holding fire until the situation was more certain and they are now likely to move into the market, boosting activity, demand and in turn, prices. 

 

“With this being the first reduction in the base rate for over two years, we can expect to see a boost in the number of people remortgaging for a better deal. This practice is no longer restricted to professional investors with normal homeowners realising that they can get a better deal on their repayments by shopping around.

 

“These new lower interest rates combined with the opportunities connected with SIPPs and the Olympic developments help to make the UK an attractive option for property investors at present.”

 

*** The Property Investor Show, to be held from Friday 23 to Sunday 25 September at the ExCeL centre in London’s Docklands, will feature around 200 exhibitors specialising in all areas of property investment both in the UK and abroad as well as expert seminars and workshops.

 

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