Property market updates | 05.10.23
There is good news for homebuyers this month as the Bank of England maintained the interest rate at 5.25% - after 14 successive interest rate rises - a sign perhaps that interest rates have peaked and may start to fall over the coming months.
There was more good news when we saw another drop in inflation – from 6.8% in the year to July to 6.7% in August – the third successive fall. So these are positive indicators for the UK economy – and the property market.
So generally the outlook is positive, as last year’s gloomy predictions of a housing market crash have not materialised and the market remains steady.