With much anticipation and a great amount of procrastination, RATE CUT DAY (RCD) has finally arrived!
RCD signifies, for the Bank of England and monetary policy, that the current cycle of drip-feeding interest rate rises, is at an end.
With the top of the interest rate cycle now past, RCD will be the lifesaver for the residential sales market that switches off the need for Buyers to remain sitting on the fence when there are many fantastic and very well priced properties available.
In recent years, many Buyers have been guided to a period of inactivity by the almost the perfect storm of Brexit, Covid, Mini budgets, Inflation, Mortgage rate rises, International instabilities and the run up to the general election.
Change is now afoot, and RCD is the lifesaving ‘circuit breaker’ that Central London needs to counter the previously flatlining and lacklustre sales market of the last 12 months.
We look forward to a busy and productive Autumn quarter with eager anticipation!! Buyers better jump off that fence quickly!
* An RCD (Residual Current Device) is also a lifesaving electrical safety device.
I hope you have a lovely summer.
Julian Chambers | Director
