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One of the biggest talking points this week has been the 11% week-on-week drop in sales agreed and a drop of 2% on the average asking price of a newly listed properties. While some seasonal softening is entirely normal during the summer holiday period, the scale of this fall has caught the attention of the property industry.
Andy Burnham is facing increasing pressure to support the introduction of new council tax bands for higher-value homes. These proposals are part of a wider effort to modernise a system many believe no longer reflects today’s property market.
The Bank of England is widely expected to hold interest rates at 3.75% when policymakers announce their latest decision on Thursday 30 July. While this may appear to signal stability on the surface, there are a number of underlying factors creating a more complex and uncertain outlook.
The rental market continues to shift, with new rules, rising rents and affordability pressures all shaping landlord decisions. July is a good time to review your property and your plans.