It can be scary every time a historic event, such as the global financial crisis, Brexit or Covid-19, has a financial impact long afterwards. The UK interest rates dropped to unprecedented levels in 2008, 2016 and 2020, and then rose dramatically in 2021 following Russia’s invasion of Ukraine. It forced the price of oil, gas and food up, and interest rates followed.
But there does seem to be light at the end of this tunnel. The Monetary Policy Committee met this week, and chose not to raise interest rates. We’ve seen them, over the last few years, meet several times to increase rates from 0.1% to 5.25% as part of a strategy to combat rising inflation. Experts have suggested that this decision reflects a potential new stability to the economy – and whilst the future is never certain, this temporary respite from interest rate increases could be a crucial moment for your bigger financial decisions.
Decisions such as the choice between moving house or extending your property – which is where we at Blackrock Architecture come in. We’ve seen an increased demand for larger-family properties, whether that’s adults moving back in with their parents, or simply changing the layout to accommodate more children – and with this new stability on the horizon, now seems the best time to get in contact and discuss potential options for you.
We specialise in architecture that’s designed for purpose, whether that’s adapting spaces for home working solutions and families. We’ll be able to give you support and advice on the best ways to maximise space so that you don’t have to move. Or if you’re investing in a property that needs a full development, suggest a variety of cost-effective resources.