On a day when the Bank of England hold the base rate at 0.5% for the sixth successive month in a row, anyone looking to purchase residential or commercial property must be looking at the most attractive period in which to buy within the last 20 years.
With low interest rates and with no sign of them going up in the immediate future and with Redrow reporting the worst trading results in the company’s history, what a fantastic opportunity to get into the property market.
Even one of the friendly Dragons from Dragons den have announced their interest in commercial property and stated that the time was right to get on board before prices started to rise and yields began to fall.
Brent Cross have finalised an agreement this week which will see £1bn of funds required to create the new north west London town centre. So we have the will and the demand, what’s the problem. Our lenders are the problem they just do not want to lend, and without them any chance of an early recovery are on hold. If you are reading this Mr Brown and Mr Darling, please get your big stick out and give the banking boys some thing to think about, if they do not start lending soon there will not be anybody left to lend to.
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