Our Q3 2023 Update
Q3 has been one of our busiest yet, with site visits across the country (including Glasgow, Cornwall and Poole) and two new team members.
Here’s a quick update on our new launch, existing projects, the industry and team. We’ll also be announcing our next project via email very soon.
In the meantime, please contact us here if you’d like any further information.
In September we launched our latest buy-to-let site Southview, Glasgow – a city experiencing unprecedented rental demand, with c.10x more tenants than available stock.
Southview neighbours large employers (NHS, BAE Systems, Thales) and offers car parking for all apartments. Private parking for new build developments in Glasgow is rare and since 2000, it’s no longer possible for residents to get parking permits.
The development is on track for Q1 2024 completion with prices starting at £164,000. Contact us for more information, including our due diligence document.
We also travelled to One Pentire in Newquay and were impressed with the specifications, retail plans and thriving tourism industry.
Overall, progress is promising and in our opinion, December 2023 completion is realistic. Read our full update for more.
At September’s meeting, the Bank of England decided to hold interest rates at 5.25%.
This promising news indicates we are entering an era of stabilisation, after 14 consecutive rises since December 2021.
In recent weeks we’ve seen more competitive rates entering the market, which again, suggests we may be at a turning point with the base rate. However, if we have reached the peak, economists predict the initial descent will be slow, gradually picking up more momentum in 2024.
As always, we will continue to speak to our panel of brokers and monitor the market for the best products.
Forbes give their thoughts on interest rates and the current mortgage climate here.
In Q3 we welcomed Izzy, our Lettings Coordinator, and Em, our Marketing Executive.