UK Economy and Property Market Update

Highlights from the latest update include:

For now, the Bank of England remains on hold regarding interest rates despite the divisions on the Monetary Policy Committee. The fact that the latest round of analysis from the Bank shows inflation still on course to return to the 2% target over the forecast horizon provides some basis for encouragement. That said, the combination of geopolitic uncertainty, domestic political change and the elevated cost of borrowing is weighing on construction sentiment and impacting the level of transaction activity in both the commercial and residential real estate markets.