Buy or rent ?
“ Rates may go up , but you can fix your rate when they stabilise rather than fixing now , which may cost you more in the long run ”
Kate Eales Head of regional residential agency at estate agent Strutt & Parker
pulling deals from the market , there ’ s more demand than ever for a shrinking pool of rental stock , which is pushing up prices . Baljit Arora , managing director at estate agent Orlando Reid , notes rental properties are being snapped up at record speed . “ We put a city centre property on the market and within an hour we ’ ll have 15 enquiries , so not only are rental prices going through the roof , they are also few and far between ,” he says . “ We ’ ve been in rentals for 15 years and I ’ ve never seen anything like what we ’ re experiencing now .”
The gathering storm Would-be buyers may wish to wait and see what is around the corner before they make their move . Economists are starting to make punchy predictions about falls in house prices . Zoopla expects a
5 % drop in 2023 , while Capital Economics and Credit Suisse both
Issue 89 - November 2022 / 35 /