Comment from Mark Anderson, MD UK Residential, Hamptons International following the Bank of England Monetary Policy Committee announcement that it is keeping the base rate on hold at 5.25%.
“The Bank of England has been wise to allow the impact of the last three increases in interest rates in six months to feed through before raising them again. Moderation within the market is needed.”
“Even before January’s rate rise there were some early signs of cooling, manifested by the first recorded fall in new mortgage enquiries within 19 months in December 2006. This combined with a rise in house prices of just 0.3%-0.5% in January 2007, is indicative of the fact that previous rate rises are beginning to bite.”
To arrange a time to speak to Mark or for further information please contact:
020 75899775, jorgensenj@hamptons-int.com
Jane Jorgensen, Senior PR Manager
Hamptons International
Hamptons International is one of the premier international residential agents offering an extensive portfolio of UK and international property, including sales, lettings, residential developments, property management and mortgages. The company is owned and operated as a subsidiary of Emaar Properties (DFM: EMAAR), one of the world’s largest real estate companies.
After more than 130 years experience, Hamptons offers unrivalled expertise and service in its market. Hamptons is headquartered in London and currently has a UK network of over 63 offices. The company continues to expand both locally and internationally, positioning it as one of the most valuable residential property groups in the world.