Yesterday the Bank of England's Monetary Policy Committee (MPC) announced that interest rates were to remain at a record low of 0.5% for a fourteenth consecutive month.
It is likely that as a result of this descision, mortgage rates will remain as they are and we will continue to see buy to let rates of between 4.5% to 6% with a minimum deposit of 30% being required.
This week also saw the Halifax Building Society announce that the average house price in the UK has risen by 1.1% for the month of March. Martin Ellis, economist for the Halifax said: "An increase in the number of properties available for sale is begining to reduce the imbalance between supply and demand. This should help to contain the upward pressure on house prices."
We have seen first hand an increase of properties being offered for sale within the Edinburgh market. As a result we are seeing an increase in properties that are offering a good investment oppotunity.
To read more regarding the outcome of the MPC's meeting, the link to the following BBC article provides an overview: http://news.bbc.co.uk/1/hi/business/8609259.stm
The minutes from the Bank of England's Monetary Policy Committee meeting held on the 7th & 8th of April will be available as of the 21st of April and can be viewed by using the following link: http://www.bankofengland.co.uk/publications/minutes/mpc/pdf/2010/index.htm
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