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.
Head of UK Residential Research at Knight Frank
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 articleKnight Frank
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