“Although there are signs that the housing market is beginning to recover from its year-long slump, it is too early to call whether this will be a full recovery or just the temporary effects of the August rate change.
“The Bank of England has today missed the chance to provide some early Christmas cheer to consumers and homebuyers alike in the shape of a reduction in the base rate. Such a move would have provided the housing market with a positive end to what has been a difficult year and encouraged consumer spending in a crucial couple of months for the high street. Without this, there is likely to be a bigger than usual dip in activity and prices over the festive period as homebuyers remain cautious of an uncertain market.”
