INTEREST RATES December 2021

STOP PRESS: Interest Rates……

The Bank of England Monetary Policy Committee has today announced a rise in the bank base rate from 0.1% to 0.25%. This has been “on the cards” for a while although many now thought they would wait until the New Year.

Nevertheless, with inflation soaring over 5% (the target is 2%), the bank was bound eventually to do something in response to rising prices and a “Post Covid” hike in consumer spending. It was thought that the new Omicron variant might prevent such a rise, but apparently not.

So what does this mean for the housing market? The rate increase, when passed on to mortgage borrowers is likely, on average, to cost homeowners £10-£15 a month more, which to some, will not be a significant change to dampen motivation to move.

Demand is still considerably ahead of supply as people continue to seek new property lifestyles, and we don’t expect to see any reduction in this demand. Indeed, we are gearing up for a massive spike in enquiries between Christmas and New Year, when people have time to consider their position and cruise the property portals. (Last year Rightmove reported 51 million hits between Boxing day and the first day back at work).

Please remember with this local agency you see all our properties on www.tppuk.com first.

It’s not too late if you wish to take advantage of this expected frenzy! Please feel free to contact us today and we’ll be happy to advise you on the best way forward.

Bangor 01248355333

Caernarfon 01286677775

Llangefni 01248751000

Holyhead 01407760500

Residential Lettings 01248724040

Auctions 01248753939

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Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.

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Matthew Fox
A great estate agent that go the extra mile to make sure our sale went through with no fuss or delays.
Anne Grossett
Always polite and professional, helped with questions queries, great friendly service, would recommend
Christopher McNaught
Amazing service from start to finish. Everything was fast and efficient from the offset, our house was sold within 72 hours of going on the market. Would definitely recommend Williams & Goodwin for anyone thinking of selling their home.
David Creen
Very happy with the service they provide.
Chris Moore
Everyone I dealt with was extremely helpful, polite and cheery. Nothing was too much for them and they carried out any requests that were needed. Fantastic team.
KDP
I was recommended by a neighbour who had sold their house through Williams & Goodwin, after they’d used a previous local agent with whom they had little interest after one year. With W & G, their house was sold within a few weeks. The service was excellent and the staff very friendly and k...
Chris Squires
Dealt promptly and efficiently with each stage of the sale. Gemma (at the Llangefni office) was outstanding, an asset to the company.
Kyle Williams
Great company, quick service and all staff were excellent during the sale of our house.
Elin jones
Diolch i bawb yn Williams a Goodwin am eich gwasanaeth ac ymdrech i werthu ein ty! A diolch i Gemma yn arbennig am ymateb i phob ebost a galwad yn brydlon a cadw ni ben ffordd. Diolch!
Scott D
During the purchase of our property. We dealt with the Holyhead branch. From our first viewings (not just the property we bought), they were very professional and dealt with all our enquiries fast and efficiently. Unfortunately, part way through our purchase, the sellers of the property we were purc...
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