Liquid error: wrong number of arguments (2 for 1) Metro (London): The China Crisis - a positive spin-off for homebuyers | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Metro (London): The China Crisis - a positive spin-off for homebuyers

Mon 31 Aug 2015


THE slowdown in the Chinese economy is good news for prospective home buyers. When Bank of England Governor Mark Carney announced in early August that the time for rates to rise was drawing closer', there was a surge in activity in the mortgage market as people tried to take advantage of the historically low rates and get fixed deals.
This pushed up demand in the UK by 5.3 per cent last month, while the supply of homes remains acute in

London there were 20 people chasing each property for sale. But due to the global events last week, the rate rise is now likely to be pushed back and the market is set to calm down. Now the economic landscape has changed following the market slowdown in China we expect greater calm on the demand side,' said Paul Smith, CEO of Haart, the UK's largest independent estate agent. `But true balance will not be achieved until more homes start to come onto the market.'

The number of property transactions for July was virtually unchanged year-on-year, but there's still a shortage of homes on the market. There are now an average of 12 buyers chasing every property in the UK, according to Marsh & Parsons.

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close