Homes under the clamour

IS NOW a good time to buy a new home? Yes, according to the HomeOwners Alliance, because prices are expected to rise despite the “Trump slump” and the current buyers’ market is not likely to last now mortgage “stress tests” have been reduced.

- By Deborah Stone

Economists expect at least one more interest rate cut this year, and that could come on August 7 when the Bank of England will review the 4.25% base rate.

Zoopla’s executive director Richard Donnell says prices increased in June for the first time in five months, adding: “The market remains on track for 5% more sales in 2025 with price inflation steady at 2%.”

Sara Palmer, sales and distribution director at Shawbrook Retail Mortgages, adds: “While there were concerns earlier in the year that the stamp duty deadline might cause a bottleneck of demand, this doesn’t seem to have played out as severely as suspected with sales being agreed at the fastest rate in four years.