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In August, we observed an increasing number of properties in Central Scotland staying on the market for longer than usual. This trend can be primarily attributed to properties being overvalued when listed. Poor valuations often neglect to account for the slower pace of inflation, necessitating a recalibration when determining property values.
According to Rightmove’s August report, most houses were still selling within six weeks. However, inaccurately listed properties could take an additional 11 weeks to sell, resulting in an average of 17 weeks on the market. These statistics underscore the critical importance of an accurate valuation and emphasise the need for estate agents who not only understand this but also possess a wealth of experience to ensure a swift sale. At O’Malley Property, we offer precisely that expertise.
Where is the mortgage market heading? After 14 back to back hikes in the base rate and a rocky few months are interest rates starting to stabilise?
For anyone that has been looking at buying a new home within the last 12 months there has been plenty to keep you on your toes. Despite all of this, the outlook is starting to improve. Over the past few weeks we have seen a number of High Street Lenders reduce interest rates, improve their stress tests and broaden their income criteria all to the benefit of borrowers. Experts and economists, at the moment, are still predicting at least 2 further base rate increases. However with the confidence back in the UK markets we should see mortgage interest rates continue to incrementally drop and possibly next year starting with a 4 or maybe even a 3.
If you are looking for mortgage advice, O’Malley Property offer expert in house mortgage advice and can search over 90 lenders ensuring we find the right deal for you. Please don’t hesitate to give us a call or drop into one of our high street offices for a coffee.
in Stirling and Alloa
in Stirling and Alloa
or end of terrace
This modern 5-bedroom house offers an outstanding, open-plan living experience in tranquil surroundings on the outskirts of Kincardine. The spacious kitchen-dining-living space is beautifully equipped and leads out to the large, mature garden. A separate sitting room, five bedrooms upstairs and a double garage further add to the appeal.
Perfect for blended families or multi-generational living, this large family home in Alloa includes a self-contained living space with bathroom and kitchen as well as 6 good sized bedrooms on the first floor. With bright living spaces and an attractive garden it provides a versatile home for those looking for extra space.
This immaculate four bedroom, detached home achieved 8% over of its home report value (£430,000) in just two viewings.
We are more than happy to answer any and all questions you might have. Please fill in this form and we will get back to you promptly.
O’Malley Finance Services Ltd is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. O’Malley Finance Services Ltd. Registered Office: 6 Primrose Street, Alloa, Clackmannanshire, Scotland, FK10 1JG.Registered in England: SC490368.
Letting Agent Registration Number (LARN) – LARN1904027
Members of The Property Ombudsman (TPO) scheme – (www.tpos.co.uk)
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