Many property forecasters have predicted that a base rate cut in August will lead to a market boom in the autumn. The first half of the year has seen a better-than-expected market performance, and the cut is likely to boost this further. For this reason, many investors were waiting for the first cut before getting into property investment.
According to Rightmove, they observed signs in market activity that suggested some potential buyers were waiting for the first Base Rate cut before implementing their plans.
Tim Bannister, Rightmove property expert, said: “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.”
