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Dorset Property Market: What’s Hot In 2018?
With the New Year underway, it is understandable that people want to look ahead. Hopefully this year will bring you success and happiness, but there are many different factors that impact on people. It would be fair to say that the housing market will make a lot of people happy and unhappy in the next 12 months, and this is why so many people are keen to see what the market holds in 2018.
At Austin Property Services, we understand the Dorset property market. We are local specialists and we have helped countless buyers, sellers, landlords and tenants achieve their property aims. We know that there are many factors that will impact on the property market throughout the year but equally, there are factors influencing the Dorset market, not the national market, so there is a need to focus the different areas. One of the most commonly asked questions when considering the property market is what area is hot, and we believe that there are few areas of interest in Dorset for the year ahead.
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How Much Is My Property Worth On The Market In 2018?
When it comes to property valuations, it is very easy to take prices at face value. There is a great level of information on offer with respect to property prices and no matter what your aim in the market is, there is a great deal to be said for using these figures as a starting point.
As of January 2018, Zoopla states the average value of property in Weymouth stands at £271,136 while in the past 12 months, the average price paid for Weymouth property stands at £246,874. By contrast, Zoopla states the average value of property in Dorset stands at £341,945 while the average price paid for Dorset property in the past 12 months comes in at £316,988.
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Predictions For Landlords In 2018
It is only natural that people will look forward at the start of a New Year. The past few years have been challenging for many landlords and many industry professionals are hoping for a more positive or optimistic year. While it looks like being another year of difficulties for landlords, knowing what is likely to come will provide landlords with the chance to be proactive and protect themselves from any changes.
At Austin Property Services, we are keen to provide our clients with as much support as we can, and believe that Weymouth and Dorchester landlords should focus on these issues in 2018.
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Should You Remortgage Your Home In 2018?
It is fair to say that many homeowners will be considering if it is worth their while remortgaging in 2018. The increase in interest rates in November 2017, and the likelihood of further increases in the year ahead, means that variable rate mortgage holders face paying a lot more money each month. Even fixed rate mortgage holders know that when their agreement ends, they could be faced with a much higher monthly payment, so there could be an incentive for these homeowners to switch mortgages too.
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When you are looking to buy a home, there are a number of mortgages for you to consider. Finding the right mortgage can make a massive difference in your ability to manage your finances and feel confident about the deal. While it is likely that you will be keen to arrange a deal as quickly as possible, you should take your time and review your options. There are a number of different options to choose from and it may be that there is a mortgage type that is best for you.
In recent times, interest only mortgages appear to have come back in popularity. This style of mortgage has always been available; it is not as if it has been removed from the market, it is just that lenders have only provided it to people who they are confident it is suitable for. It is clear that many people would benefit from only paying the interest element each month but the risk associated with paying the full value of the property off at the conclusion of the mortgage period is a concern for many. If this style of mortgage is available, it is worth considering but anyone holding this style of mortgage would also be advised to have a savings plan in place to offset some or most of the cost of the property.