Property Market reacts to bank of England’s interest rate decision

Posted in Jul 02 , 2024

The Bank of England has maintained the existing interest rate for the seventh time in a row. UK interest rates have not moved since the Bank of England raised them to 5.25% last August.

The decision to freeze rates again comes as inflation, which measures price rises over time, falls back to the 2% target, as revealed yesterday as well as the interest rate decision, the Bank has just released its latest forecast estimating what will happen to inflation and the UK economy.

The Bank of England governor Andrew Bailey believes that it is not yet the time to reduce interest rates. Markets are only fully pricing in a cut in September, but many economists had hoped that the Bank would make a move this month to cut rates.

One last hold in June? There is still a chance that rates could be reduced when the bank’s Monetary Policy Committee meet in August. In a sign the central bank may be getting closer to cutting rates, the BoE policy minutes said the decision had been “finely balanced”.

https://propertyindustryeye.com/property-industry-reacts-to-bank-of-englands-interest-rate-decision

Shared on social media

Comments

Enquiry form

Latest news

May 2026 Property Report: The Rules Have Changed

May 2026 was a month of adjustment for the UK property market. The biggest rental reform in decades officially came into force, house prices recorded their first meaningful decline of the year, and buyers continued to navigate a challenging lending environment. Mortgage approvals are rising, rental demand remains strong, and opportunities continue to emerge for buyers, sellers, landlords, and investors who adapt to changing conditions. Here are the key developments from May and what they mean for you. Renters' Rights Act Officially Comes Into Force The biggest housing story of the month was the implementation of the Renters' Rights Act on 1 May 2026. The new legislation introduces significant changes across the private rented sector, including the end of Section 21 "no fault" evictions, stronger tenant protections, new rules around rent increases, and additional compliance requirements for landlords. The changes affect how tenancies are managed, how disputes are handled, and how landlords operate their properties. Many landlords are now reviewing portfolios and reassessing long-term investment plans. Why it matters This is one of the most significant regulatory changes the rental sector has seen in decades. Landlords must understand and comply with the new rules to protect their investments and avoid legal issues. For tenants, the reforms provide greater security and stronger protections. For investors, the changes may create opportunities as some landlords choose to sell properties that no longer fit their investment strategy. How we help We support landlords through every stage of the lettings process, helping them understand new requirements and adapt to changing regulations. Whether you manage a single property or a larger portfolio, our team can provide practical guidance to help protect and grow your investment. House Prices Record Their First Significant Fall of 2026 May delivered the first clear sign that the housing market is becoming more sensitive to affordability pressures. According to Halifax, UK house prices fell for the third consecutive month, with annual growth slowing to approximately 0.5%. The average UK property price now stands at around £298,800. Higher mortgage costs and economic uncertainty are making buyers more selective and price-conscious. As a result, pricing strategy has become increasingly important. Why it matters Buyers are taking longer to make decisions and negotiating harder on price. Properties that are realistically priced continue to attract interest, whilst overpriced listings often remain on the market longer and face price reductions. For sellers, accurate pricing and presentation are becoming more important than ever. How we help We use current market data, local knowledge, and buyer demand trends to position properties correctly from day one. A realistic pricing strategy can lead to stronger interest, better offers, and a smoother sales process. Mortgage Approvals Reach Their Highest Level in More Than a Year Despite affordability challenges, one of the most encouraging developments in May came from the lending market. Mortgage approvals reached approximately 66,000, their highest level in more than fifteen months. Buyers are adapting to current mortgage rates rather than waiting for conditions to improve. Whilst borrowing costs remain higher than many would like, demand remains active among financially prepared purchasers. Why it matters Rising mortgage approvals show that serious buyers remain active despite affordability pressures. For sellers, this provides reassurance that motivated purchasers are still entering the market. For buyers, it highlights the importance of being financially prepared and ready to act when the right opportunity arises. How we help We work closely with buyers and sellers throughout the transaction process to help ensure deals progress smoothly from enquiry to completion. By focusing on serious and financially prepared buyers, we help reduce delays and improve transaction certainty. Property Sales Continue to Take Longer One of the less discussed challenges facing the housing market is the increasing time required to complete a sale. Recent industry data shows that the average residential property sale now takes approximately 21.5 weeks from listing to completion. Several factors are contributing to this trend, including mortgage affordability checks, longer legal processes, and cautious buyer decision-making. Why it matters Longer transaction timelines increase the risk of sales falling through before completion. This creates uncertainty for both buyers and sellers, particularly when onward purchases or financial deadlines are involved. In a market where transactions take longer, effective management becomes just as important as finding a buyer. How we help We actively manage transactions throughout the sales process, maintaining communication between buyers, sellers, solicitors, and lenders. This helps identify issues early, reduce delays, and keep transactions moving forward. Rental Demand Remains Strong Despite Market Changes The rental market remains strong despite wider market uncertainty. Latest data shows average UK rents reaching approximately £1,381 per month, with annual rental growth remaining around 3.5%. At the same time, many areas continue to experience a shortage of available rental properties. Some landlords are reviewing or reducing their holdings following the introduction of the Renters' Rights Act, adding further pressure to supply. Why it matters Strong tenant demand combined with limited supply continues to support rental values across many locations. For landlords who remain in the market, occupancy levels remain healthy, and long-term demand remains strong. For investors, supply shortages continue to support the long-term outlook for rental property. How we help We help landlords maximise returns through effective marketing, tenant sourcing, property management, and strategic advice. Our goal is to help landlords maintain strong occupancy whilst navigating an increasingly regulated environment. What's the Bigger Picture? Buyers are becoming more selective, landlords are adapting to new rules, and sellers need to price accurately to attract serious interest. In a market that demands more planning and preparation, experienced guidance can make a real difference. Whether you're buying, selling, letting, or investing, Cribs Estates is here to help you move forward with confidence. References: Renters' Rights Act Goes Live House Prices Record Their First Significant Fall of 2026 Mortgage Approvals Reach Their Highest Level in More Than a Year

Marryat Road SW19 Area & Property Guide

Marryat Road SW19 is widely regarded as one of the most sought-after residential addresses in Wimbledon. Located between Wimbledon Village and Wimbledon Common, it attracts buyers looking for more than just a property. People move here for the lifestyle, the schools, the green space, and the long-term stability that few London locations can offer. For buyers considering a move to Marryat Road, the key question is rarely whether the area is desirable. It is whether the premium attached to the location is justified. Who Is Marryat Road Best Suited For? Marryat Road primarily attracts affluent families, long-term homeowners, and international buyers seeking a prestigious South West London address. Many residents choose the area because they want: Larger family homes Access to highly regarded schools Proximity to Wimbledon Common Long-term property stability This is not typically a location for first-time buyers or investors focused on rental yields. Buyers here are often planning for the next 10 to 20 years rather than the next two to three. For families looking to remain in London while gaining more space and a stronger sense of community, Marryat Road continues to stand out. Where Is Marryat Road and Why Is It So Desirable? Marryat Road sits within Wimbledon, SW19, one of South West London's most established residential markets. The road benefits from proximity to: Wimbledon Village Wimbledon Common Wimbledon Town Centre Wimbledon Station One of the biggest reasons buyers are attracted to Marryat Road is its position between urban convenience and open green space. Residents enjoy access to central London while still benefiting from a quieter residential environment. Unlike many prime London locations, Marryat Road feels distinctly family-oriented. The area is known for long-term residents, well-maintained homes, and a strong sense of neighbourhood identity. What Living on Marryat Road Is Actually Like Life on Marryat Road is centred around space, privacy, and quality of life. Properties are typically larger than those found in many other parts of London, with detached and substantial period homes dominating the streetscape. Private gardens, tree-lined surroundings, and quieter roads contribute to the area's appeal. Residents often spend weekends walking on Wimbledon Common, visiting Wimbledon Village, or taking advantage of the area's cafés, restaurants, and independent shops. One of the most notable aspects of Marryat Road is how long people tend to stay. Many families remain in the area for years, often because it continues to meet their needs as children grow older. For buyers seeking a long-term home rather than a short-term move, this is a significant advantage. Property Prices on Marryat Road Property values on Marryat Road SW19 reflect its reputation as one of Wimbledon's premier residential addresses. While prices vary depending on size and condition, buyers can typically expect: Large family homes from approximately £2 million Detached houses commonly ranging between £4 million and £6 million Prime properties exceeding £8 million in some cases The premium is driven by several factors: Limited housing supply Larger plot sizes Proximity to Wimbledon Common Strong school demand Long-term desirability For many buyers, the investment is not simply in the property itself but in the overall lifestyle and location. Schools and Family Appeal Education remains one of the strongest demand drivers for Marryat Road. The area benefits from access to some of South West London's most respected schools, including: King's College School Wimbledon High School Wimbledon College Ursuline High School For families, proximity to high-performing schools often influences both purchasing decisions and long-term property values. Strong educational options also contribute to the area's resilience during changing market conditions, helping maintain consistent demand. Transport and Connectivity Despite its residential character, Marryat Road remains well connected. Nearby Wimbledon Station provides: National Rail services District Line connections Tram services Typical journey times include: London Waterloo: approximately 20 minutes Clapham Junction: approximately 10 minutes Victoria: approximately 25 minutes This connectivity allows residents to enjoy a quieter lifestyle without sacrificing access to Central London. Wimbledon Common and Green Space One of Marryat Road's greatest advantages is its proximity to open green space. Residents are close to: Wimbledon Common Cannizaro Park Wimbledon Park These spaces provide opportunities for walking, running, cycling, and family activities throughout the year. For many buyers, access to green space is one of the main reasons they choose Wimbledon over more central locations. It offers a lifestyle that is increasingly difficult to find elsewhere in London. Is Marryat Road SW19 a Good Investment? Marryat Road appeals to buyers looking for long-term value rather than short-term gains. Key investment strengths include: Limited housing supply Consistent family demand Strong school-driven market Prime Wimbledon location Long-term capital growth potential Property values here are supported by factors that are difficult to replicate elsewhere. Large family homes near Wimbledon Common remain in limited supply, helping protect demand over time. How Cribs Estates Can Help At Cribs Estates, we help buyers, sellers, and investors understand property values, market conditions, and buyer demand across Wimbledon and SW19. Whether you're purchasing a family home, planning a sale, or exploring investment opportunities, our team provides practical advice backed by local expertise. Speak to Cribs Estates today for a free valuation or expert guidance on the Wimbledon property market.

Property search

Residential Lettings

Residential Sales

Rooms to Rent

Commercial Sales

Commercial Lettings

Price

Min price

Max price

Number of Bedrooms

Min bedrooms

Max bedrooms

Find properties