Base Rate cut expected to boost market

Rightmove's director of property science Tim Bannister says "A base rate cut is expected to lead to lower mortgage rates, which could be the gamechanger for some would-be home-movers who are being held back by significantly higher monthly mortgage costs.

“The average five-year fixed rate is still nearly twice as high as it was before the first of 14 consecutive Bank of England rate increases in 2021, with rates staying elevated for much longer than many thought that they would. 

“A first base rate cut for over four years, together with the new political certainty, could set the scene for a positive Autumn market, with improved affordability and a more confident outlook in the second half of the year."

Both Worcester and Malvern offices continue to be busy, with fresh peoperties coming to market and plenty of viewings.

To arrange for a free valuation on your property, please call Amanda or Sam on 01684 575100 or Mel or James on 01905 26664

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