Bank of England turns gloomier as base rate rises to 1.75%; how will the housing market respond, asks Tom Bill
Economists question the Bank’s latest forecasts while the direction of travel for mortgage costs is less open to debate, writes Knight Frank's head of UK residential research.

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.
Bank of England bumps interest rates up 0.5% to 1.75%; warns of a recession by the end of the year
Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
BoE bumps base rate up to 1.25%
Britain's central bank hikes interest rates again in a bid to curb inflation.
‘There doesn’t need to be a recession to dampen the mood in the UK housing market’ – Knight Frank
Knight Frank's research team assesses what the Bank of England's slashed forecasts mean for the property market.
By Tom Bill
Companies in this article
Knight FrankMost read
Knight Frank boosts billionaire division with Head of Global Private Capital
International property consultancy rolls out new strategy to 'align its capabilities across super-prime residential, global capital markets & capital advisory.'
By PrimeResi
Luxury property developer scales up with five senior hires & new HQ
Valouran’s founders say the business has reached a ‘pivotal juncture’ as its PCL pipeline builds.
Top-end estate agency to list property prices in Bitcoin
Cryptocurrency pricing 'offers an engaging and modern lens through which to view property values,' says Moveli.
By PrimeResi
In Pictures: Kelly Hoppen picked to design £38mn ‘quinque-plex’ penthouse at Thames City
Excel Winner's near-10,000 sq ft 'sanctuary in the sky' is one of the largest & highest homes currently available in London.
By PrimeResi
D&G recruits self-employed brokers in Dulwich, Fulham & Balham
Estate agency reports 'strong early momentum' in its search for 50 new partners this year, with new joiners moving from Winkworth & eXp UK.
By PrimeResi
International estate agency adds two senior recruits to fortify global network
Sarah Kemp & Yulia Klim have joined Chestertons Global to manage marketing & the affiliate network.
By PrimeResi
‘Extraordinary’ Cotswolds development opp offered for sale
Agency lists rare chance to create a 9,500 sq ft contemporary super-home in an Area of Outstanding Natural Beauty.
Property firms strike gold at Chelsea Flower Show
Big wins for London Square & Hamptons as sponsored gardens take top honours at star-studded showcase in SW3.
‘This could be the moment to act for global investors’: Evaluating the UK’s prime residential markets in an era of uncertainty
Middleton Advisors & Yolande Barnes explain why the stage is set for a renewed influx of overseas investment in PCL & country markets.
RBKC property prices sink to 11-year low
Analysis by the Financial Times shines a light on prime London's long-running property slump.
By PrimeResi
LATEST ARTICLES
Landlords face new rules under major Westminster licensing drive
Rollout aims to raise housing quality - and regulatory scrutiny - across 15 of 18 wards, including prime hotspots.
RBKC property prices sink to 11-year low
Analysis by the Financial Times shines a light on prime London's long-running property slump.
By PrimeResi
£17.25mn Little Venice villa finds a buyer
'Totally unique' residence facing the Regent's Canal is one of the area's finest, say agents.
Design studio Sims Hilditch shifts to partnership model
High-end firm says 'progressive' leadership reshuffle reflects evolving client needs & will future-proof the business.
In Pictures: Stanley Kubrick’s former Hertfordshire home listed for £6.95mn
Savills is pitching Abbots Mead as 'a wonderful opportunity to own a true piece of filmmaking history that helped shape some of the most iconic films in cinema.'
By PrimeResi