One of the hottest topics in the current UK property market is the prospect of potential base rate cuts in the coming months. Many experts have forecast that the first cut may come this autumn in August or September.
According to Home, the wider UK economy is facing challenges caused by high interest rates, while European competitors are already enjoying the benefits of their first-rate cuts.
Another sector impacted by high interest rates is the new-build industry. Home states that much-needed investment in new-build and energy-efficient rental stock is experiencing a slowdown due to elevated interest rates, leading to reduced supply. For comparison, in July 2019, there were 122,000 properties available for rent, while today, the total number is 66,000.
