UK house asking prices dip, but buyer interest picks up, after Bank of England cut
UK estate agents are reporting more buyer interest following the Bank of England interest rate cut
- The Bank of England began cutting interest rates from a 16-year high on August 1
Rightmove survey showed:
Also:
- buyer
enquiries in August were 19% higher than a year earlier,
compared with an 11% annual increase in July
Rightmove director Tim Bannister (via Reuters report):
- "While mortgage rates aren't yet substantially lower since
the rate cut, the fact that the long-hoped-for first cut has
finally arrived, and mortgage rates are heading downwards, is
positive for home-mover sentiment"
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: UK house asking prices dip, but buyer interest picks up, after Bank of England cut (https://www.forexlive.com/news/uk-house-asking-prices-dip-but-buyer-interest-picks-up-after-bank-of-england-cut-20240818/)
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