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A client asked us recently what impact the escalating situation involving Iran might have on the UK property market. It is a good question, and the honest answer is that the main area to watch is interest rates.
Over the last few weeks, there has been a growing narrative in the national press suggesting that the housing ladder is becoming increasingly difficult to climb. Much of this centres around the widening gap between smaller and larger homes, with many commentators suggesting that homeowners are becoming “stuck” and unable to move up.
When you have had your property on the market for a while, many sellers eventually face the same difficult decision: whether their asking price needs adjusting to reignite buyer interest.
Being a landlord in the UK has become harder in recent years. Rising mortgage costs, more regulation and higher expectations from tenants have added pressure.