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.
