Whether you’re an aspiring first-time buyer or a property investor looking for your next opportunity, the state of the current housing market means you need to be more certain than ever that you’re making a good investment. Higher mortgage rates since 2022 have meant buyers have had to carefully consider their budgets and what repayments they can realistically take on. In January 2022, the average two-year fixed rate mortgage was 2.65pc and the five-year was 2.88pc, according to Moneyfacts. These are now 5.81pc and 5.38pc, respectively. What’s more, there hasn’t been much of a house price dip to soften the higher borrowing costs. In fact, prices are forecast to rebound faster than previously expected according to the Office for Budget Responsibility. Flats have long been a popular choice for those looking to keep costs down, but they don’t always attract the best headlines. Leasehold issues and new build development disasters have left many buyers financially trapped. So, are they still a good investment? Deciding your budget and what you can afford is one of the first considerations, regardless of what kind of property you’re looking to buy. For most, it will involve applying for a mortgage. On top of the...