What the Bank of England decision means for UK real estate - CNBC
- Date: 04/08/2016
- Source: Gemma Acton, CNBC
Gemma Acton, CNBC, writes: "Thursday's Bank of England (BOE) announcement has left analysts contemplating what it could mean for the U.K. property market, which has seen strong price gains in recent years.
"Homeowners are also closely watching what the rate cut could mean for home loans, with tracker mortgages - where the interest rate varies according to the BOE's base rate - being extremely popular in the country."
Phil Harris, Head of Sales at BLP Insurance comments: "The construction PMI reflects a significant reduction in confidence. This is compounded by rising project costs as a result of the fall in the value of the pound, in turn increasing the cost of imported building materials ... although fundamental conditions within the residential sector remain largely constant, there is no doubt that we have a period of turbulence ahead, particularly in the commercial sector."
Read the full article on CNBC's website.