For those considering whether now is the moment to buy, these are disorienting times. When Kate Faulkner recently looked for a home in the city of Peterborough — a growing location for London commuters — she found comparable properties within one square mile whose prices were going up, down or were completely flat.“There are as many different markets in one city as there are across the country,” said the founder of Property Checklists, a website and advice provider. With price growth slowing in former hotspots, transaction levels stuttering and an uncertain period for Britain’s economy in prospect, the housing market has been drawing in its horns. Buy-to-let investors are hemmed in by new taxes and regulations, while owner-occupiers are reconsidering high-risk property moves as interest rates start to rise and mortgage affordability rules remain tight. This week, Bank of England governor Mark Carney delivered a stunning warning that house prices could be 35 per cent lower than would otherwise be the case three years after a disruptive “no-deal Brexit”.Some, however, believe today’s uncertain market offers precisely the conditions in which canny purchasers can find opportunities to strike a property bargain. After experts tackled the issues on stage at the FT Weekend Festival… Read full this story
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