Reading Estate Agent

2 Bedroom flat with private garden and communal grounds coming soon

https://www.spareroom.co.uk/?utm_campaign=newsletter_lolsagents_inactive_nov-1&utm_medium=email&utm_source=crm

SpareRoom - the UK's No. 1 flatsharing site Search for a room to rent or find a flatmate the fast, safe and easy way - we have thousands of ads all across the UK.

https://www.readingestateagent.com/property-for-sale-oxford-road-reading-pi-jarv1370.htm

Oxford Road, Reading - Price £335,000 Retail - Restaurant Premises with 1 bed flat above available Freehold.

Interest Rates Hit 5%

The Bank of England has cut interest rates for the first time in over 4 years. The new rate of 5% is the lowest since the pandemic took hold in March 2020.

Interest rates directly influence the cost of mortgages and credit cards and those with variable rate mortgages will see an immediate reduction in the monthly payments.

There are still a considerable number of homeowners who are locked into considerably lower rates. Around a third of people with fixed-rate mortgages are paying less than 3% with most of these expiring by 2027.

You can find out more below:
https://www.bbc.co.uk/news/articles/cx72dpxy25do

Reading Borough Council's challenge to the Vastern Road proposed development has failed due to a 'procedural error'.

In March of this year, the levelling up secretary, Michael Gove, approved plans to develop the site despite the concerns of the council. The proposed plans by finance firm Aviva will provide between 600 and 1000 homes as well as offices and retail space.

The council did not approve of the government's choice to 'undermine the local democratic planning process' according to the planning lead, Micky Leng, and began its legal challenge in May. This has now been withdrawn due to the procedural error which clears the way for the development.

You can read more about it at the link: https://www.bbc.co.uk/news/articles/c100rd0p97ro

The government recently passed a law to reform leasehold and freehold in England and Wales. It aims to make it easier to extend a lease, buy the freehold and take over the management of the building. There will also be greater transparency over service charges with a standardised format for the bill.

The plan to remove ground rent for current leaseholders or cap it at £250 was not included.

You can read more about this at the link below:

Leasehold reforms become law The Leasehold and Freehold Reform Act has become law today.

The government has recently approved plans to replace the existing businesses along Vastern Road in order to build new retail space, offices and homes. The plans which were previously refused include permissions for buildings up to 75m tall and 600 - 1000 homes. The Communities Secretary Michael Gove said it would provide "significant economic benefits".

You can read the full report at:https://assets.publishing.service.gov.uk/media/65fc412c65ca2f001b7da7f3/240321_Combined_DL_IR_RtoC_-_Vastern_Court_Caversham_Road_Reading.pdf

Virgin Media have reported a temporary outage in the RG30 area, they are looking to have the issue resolved this afternoon. You can use the 'Check Service Status' page on the Virgin Media website for more information: https://www.virginmedia.com/help/service-status

The Bank of England has said it will maintain interest rates at 5.25% for now. This could give mortgage lenders the confidence to offer more competitive rates very soon.

It also released its inflation report in which it said it expected inflation to drop quickly in the next six months before rising again later this year.

This will be good news for people who have been thinking of selling their property, but have been waiting for the current situation to improve. If this is you, please call us on 0118 958 4242 for a free, no-obligation valuation.

For more information, please take a look at the link below:
https://www.bbc.co.uk/news/live/business-68164004 #:~:text=The%20UK's%20official%20interest%20rate,the%20highest%20for%2015%20years.

Thames Water have reported problems issues with low pressure or no water over the weekend.

They have recently updated their post this morning saying that this problem is now only occurring in the RG1 and RG30 postcodes. They are working hard to rectify this problem and have set up bottled water station at: - Tesco. Napier Rd. RG1 8DF.

More information in the link: https://www.thameswater.co.uk/network-latest/pangbourne-wtw-outage-20-jan-2024

The holiday period saw a record number of homes listed for sale!

According to Rightmove, more than 10,000 new properties were added to the market on Boxing Day alone. This is the highest number they've recorded since 2011.

There was also a significant increase in visits to the website from potential buyers, with a 17% rise in enquiries compared to the year before.

The expected fall in mortgage rates in the upcoming year is one reason that many people are preparing to find their next home a.

Are you thinking about buying or selling? Please contact us on 0118 958 4242 to discuss how we can make this a reality for you.

More information and advice on Rightmove's website below:
https://www.rightmove.co.uk/news/articles/property-news/record-sellers-on-boxing-day/