Even before the Chancellor announced his £81 billion cuts, property prices were coming under severe pressure. The prospect of nearly 500,000 public sector job losses will make things worse by increasing the number of distressed sales.
Last month mortgage lending hit its lowest level for a decade at just £12 billion, according to the Council of Mortgage Lenders. This followed shock figures from Halifax showing a record 3.6 per cent drop in house prices in September, the biggest fall in 27 years. So if ever there was a time to sit tight and ensure you exploit the full potential of the property you already own it’s now.
"Improve, Don’t Move" has become a tired phrase but it still rings true for many home owners, who may be forced to opt out of the buying / selling chain but nonetheless need to ensure their current home really does tick all the boxes. And it goes without saying, why move when you can gain extra living accommodation from your outdoor space! Garden studios and outside offices continue to grow in popularity while decking and patio installations can provide a year round entertainment and / or safe play area. Speak to us for details of how to design these new features into your existing garden landscape.
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