Bank of England will still go for at least one more 25bp cut as economy slows

Commercial property

Further evidence of the pressure on the commercial market: demand for commercial property fell at the fastest pace for over six years.

Construction

New orders in the first quarter of  the year slipped to their lowest level since the early part of 2005. Within this, the most visible area of weakness was predictably to be found in the housing sector.

Residential property

The RICS Housing Market Survey for March confirmed that sentiment deteriorated again in March, making it the most negative month since the survey began (January 1978).

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