Bank of England Cut Base Rate

Today the Bank of England delivered some encouraging news for the property market: its base interest rate has been reduced by 0.25 percentage points to 4%, the lowest level since early 2023

What Does This Mean for the Property Market?
This marks the fifth rate reduction in a year, and many commentators expect further cuts before the end of 2025.

Base rate reductions frequently boost market confidence and activity, encouraging both home buyers and sellers to act. This means we can expect a positive ripple effect in property activity.

Competition in the market has already created a marked rise of activity by potential buyers, so it is an excellent time to position your home on the market if you’re thinking about selling.

We’re already seeing heightened buyer demand locally, with many recent offers and properties moving more quickly. The improved mortgage affordability coupled with the lower base rate means borrowers should feel added financial benefits, with a knock-on effect boosting property sales further.

A window of opportunity is opening with this latest base rate reduction, so if you’re a seller, acting promptly should find a more engaged pool of home buyers available.

If you book a no obligation, free valuation here with one of our local experts, you could be moving before Christmas.

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