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Golden Cross – good news for property market

Cooling inflation to its lowest level in two years is sending a warm glow through the property market, just in time for Christmas and New Year home buyer decisions. The Office for National Statistics this week recently revealed that inflation was down from 6.7 per cent to 4.6 per cent, mainly due to falling energy prices.

Delighted with the news, Alistair Hilton, Head of sales at Balfours, says: “For those seeking to buy or re-mortgage this is excellent news; that cost of living is the lowest level since November 2021.

“This small downward trend in inflation, we expect to continue and will endorse the view, and hope, that interest rate rises are no longer needed: The Bank of England has held firm for the past two months after a long upward trajectory.”

The Bank of England next meet on December 14, if they hold firm again, which current figures would suggest, then this will constitute solid confirmation of a long-term trend by the occurrence of a short-term moving average crossing over a major long-term moving average. Alistair explains: “On the stock market this is referred to as ‘a Golden Cross’ occurring as strong confirmation of a changing trend that is already happening.”

He continues: “Yes, we still have inflation at 4.6% but overall, the forecast is good. While the Bank of England may not bring rates down until early summer, the Golden Cross is without doubt good news for homeowners and those seeking to engage with the property market.

“Homebuyers have the added benefit that lenders are because transaction volumes have been exceptionally low, more confident and more competitive. Without doubt this is the time for those seeking to sell in the New Year or early Spring to prepare the way,” Alistair concludes.



Pictured Alistair Hilton, Head of sales at Balfours

Issued by and more information from Joy Fox Pr 07841 763 530

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