UK estate agents are reporting more buyer interest following the Bank of England interest rate cut

  • The Bank of England began cutting interest rates from a 16-year high on August 1

Rightmove survey showed:

uk rightmove august 2024 2

Also:

  • buyer enquiries in August were 19% higher than a year earlier, compared with an 11% annual increase in July

Rightmove director Tim Bannister (via Reuters report):

  • "While mortgage rates aren't yet substantially lower since the rate cut, the fact that the long-hoped-for first cut has finally arrived, and mortgage rates are heading downwards, is positive for home-mover sentiment"