PODCAST: https://anchor.fm/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–30th-Oct–5th-Nov-2022-e1qbdfa
Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:
Article, Podcast and TV Show written and produced this week are:
FP TV (EP 115) INTEREST RATE RISES: How to keep your sale or remortgaging plans on track
Even though many lenders lowered their mortgage rates after Rishi Sunak became Prime Minister, we all face a bumpy road ahead.
The media is battling it out to write the scariest headlines of an imminent price crash and soaring interest rates, but there isn’t a newspaper, market analyst or financial expert who knows the future of the property market.
(Read 3 mins) https://www.fifeproperties.co.uk/…/interest-rate-rises…/
ZOOPLA UK House Price Index Sept 2022
Executive summary
- Spike in 2 and 5 year fixed mortgage rates hits demand, down a third since mini budget
- Sales still being agreed at slower rate, from cash buyers and those with cheap loans -pipeline of nearly 293,000 sales in progress
- No signs of any impact on pricing expected in Q4
- Outlook for 2023 depends largely on trajectory for mortgage rates
- Sustained 6% mortgage rates would lead to double-digit price falls eroding ‘paper’ gains over pandemic but few negative equity cases
- More likely outcome is a fall in mortgage rates towards 4% and a modest decline in house prices of up to 5% over 2023 with 1m sales
- Robust labour market and scarcity of supply will support pricing but markets in southern England to feel the greatest impact
(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-sept-2022/
How will interest rate rises affect the people of Fife and how high can it go?
How will interest rate rises affect you and how high can it go? Interest rates have risen sharply as the Bank of England continues to use its powers to tackle soaring prices. The Bank has increased its benchmark rate from 2.25% to 3%. That is the eighth consecutive increase since December, pushing the rate to its highest level for 14 years. It also marks the biggest single increase since 1989, and could have a big impact on the cost of living and people’s finances.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP44 THE WEALTH CREATION SHOW: How to Build Confidence
Self Confidence can be defined as: A feeling of trust in one’s abilities, qualities, and judgement. For some of us it comes easier than others. Sometimes we go the whole of our lives not having that confidence that we so desperately seek that can lead us to the riches we desire.
Having a healthy level of self-confidence can help you become more successful in your personal and professional life.
So how do you build self-confidence?
Luckily, you don’t need to head back to school to understand this as Jim Parker and Richard Cook are on hand to take you through the 9 key areas on How to Build Confidence. As ever, this is based on Jim’s personal experience and wisdom that took him from homeless and unemployed in his early 20’s to financial freedom at 38 years old.
(Watch, Listen) https://www.fifeproperties.co.uk/blog/the-wealth-creation-show-how-to-build-confidence/
If you’ve missed the previous shows you can catch up on our play list: https://www.youtube.com/playlist?list=PLu-dtDBNhbLJvH_47QHVWEQSB0w2_KGj9
If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, please contact us to richard.cook@fifeproperties.co.uk
This is all about accelerating your wealth in 2022.
*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.
