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.
What to read next
‘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
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.
Tom Bill: Four things to watch for the UK property market in 2022
Knight Frank's UK resi research boss runs through the key factors that could affect the trajectory of the market over the next 12 months...
By Tom Bill
Companies in this article
Knight FrankMost read
Savills Private Office adds trio of HNW specialists in London & New York
Big-name appointments boost the firm's offering for the globe-trotting super-rich.
By PrimeResi
Buyer swoops on ‘one of London’s most celebrated historic houses’
Architecture wins out over postcode as purchaser searching in Westminster exchanges on landmark mansion south of the river.
Guernsey’s biggest privately-owned estate seeks £65mn
The 80-acre Havilland Hall comes with a Regency mansion, a private 'village' and an array of leisure & business facilities.
By PrimeResi
Grosvenor Square penthouse finds buyer at nearly half its original asking price
Seven-day exchange follows more than three years of marketing for hefty Mayfair duplex.
Inside 1 Mayfair: Caudwell completes first residence at ultra-luxe scheme
Lavish show apartment dressed by New York designer Jamie Drake is pitched at £83.7mn.
By PrimeResi
High-profile agency reopens SW3 sales operation
Chestertons has a dedicated Chelsea sales team for the first time in nine years.
By PrimeResi
Agency seals string of super-prime St George’s Hill sales
The latest big-ticket residence to change hands on the exclusive private estate was guided at £13.75mn.
Interview: Alexander Main on entrepreneurship, building a brokerage & getting PCL deals done
‘You can’t just wait for the market to come to you’: Agency founder talks HNW buyer trends, turning marketing spend into sales & why half his firm’s deals this year have involved another agent.
UK Sotheby’s signs Surrey specialist from Savills
Experienced agent joins as firm gears up for ‘important next step’ in the county.
Savills downgrades prime forecasts; no recovery for PCL prices until 2029
Prime London and regional property prices are likely to decline further next year, says top agency.
By PrimeResi
LATEST ARTICLES
Savills announces ‘management evolution’ in Europe
London-listed real estate advisor rejigs top table team in the UK and wider EMEA region.
By PrimeResi
Daggers’ DDRE tops £200mn in 2026 sales; adds five more advisers
'Buying London' brokerage brings in new dealmakers and reports run of big-ticket transactions in town & country.
King’s bank flags deeper discounts & dwindling options for prime London buyers
Coutts updates HNW clients on 'repricing opportunities', with some PCL heartlands now trading around 30% below peak.
Ex-Winkworth Director signs to broker network
Dominic Cocklin has been in the London estate agency game for the last 25 years.
By PrimeResi
New island Director for Spain Sotheby’s International Realty
Top-end agency claims 90% of Balearic Island buyers are international, with 80% of its transactions involving Brits or Germans.
By PrimeResi