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Brokers have been caught up in the slipstream of a shift in sentiment prompted by financial scandals that have primarily not been caused by them. We also appear to see a change towards more direct human contact. After years of grappling with phone menus and online journeys littered with pop-ups and adverts, people want to be able to talk to another human being again.
The latest property market data shows that with a clear pattern emerging, homeowners can plan ahead and build the shield to prevent unexpected losses of income or assets.
In the month of June, the monthly searches for re-mortgaging took a significant leap, with a nearly 22% increase on the previous month. This was revealed in exclusive data from Twenty7tec. On top of this, purchase mortgage searches increased by 0.6%, along with buy-to-let searches rising by 11% when compared to May 2023.
Economic forecasts released on Monday, 12th June, have predicted a continuation of interest rates, despite a more optimistic bigger picture. Although many may be hopeful for more economic stability on the horizon, there may be a considerably longer period for lethargic growth in the financial market.
There is an undisputed degree of uncertainty in the housing market, with landlords continuing to sell properties as the government launches schemes in an effort to persuade first-time buyers to take their first steps on the property ladder to balance out the current climate.
In Britain, first-time buyers of property are making waves with a record-breaking figure so far for 2023. Hamptons are reporting that first-time buyers make up 27.1% of the buyers’ market at the time of writing. This trend features a gradual rise from 21.6% to the current figure since 2018.
2022 saw many changes throughout the insurance industry, especially from a financial point of view. Companies, advisers and customers have all felt the increasing pressure of rising living costs. With property valuations, rent costs and general expenditure climbing to new heights, 2022 will be remembered for years to come.
Although prices will change with trends and developments in the market, your time will always remain invaluable. Optimising your client interactions is essential for ensuring that your business relationships remain strong.