David Bexon, managing director of SmartNewHomes.com, has reacted to the decision by the Bank of England’s Monetary Policy Committee (MPC) to hold the base rate at 4.5 per cent:
“We are just starting to see the effects of last month’s rate cut drip through to the housing market but it remains too soon to call whether or not any real lasting effect will be felt.
“However with consumer spending at new lows and oil prices rocketing, a further reduction is still likely to be needed. This will almost certainly give that extra boost to a housing market that is looking to perk up from a long period of stabilisation and we may yet see single digit price inflation by the end of the year.”
