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Budget prompts estate agent to cut forecast for house price rises
The Guardian
|November 11, 2024
Expectations that UK interest rates may stay higher for longer, as well as revenue-raising measures in the budget, have prompted a leading estate agent to cut its longer-term forecast for house price growth.
The revised forecast from Hamptons came days after Halifax and Nationwide said the annual rate of property price growth had slowed, with the former saying it was likely to be "modest...for the rest of this year and into next".
The analysis is one of the first to emerge after the Bank of England's quarter-point rate cut to 4.75% on Thursday. The bank's warning that last month's budget would push up inflation has fuelled expectations that rates will take longer to fall.
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