UK house asking prices dip but buyer interest picks up after Bank of England cut

August 19, 2024
-FCHFX

August 19, 2024 at 12:12AM

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.

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