Market
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What the autumn rate cut actually does to London prices
Rates moved in August. Here is what changed in the numbers we see across the desk, and what did not.
The first month
The cut landed on a Thursday and by the following Monday our viewing requests were up by a third. That is a sentiment effect, not a pricing one — the mortgage offers people were working from had not changed yet.
Where it does show up is in the middle of the market. Between £900,000 and £1.6m, the number of offers per listing has moved from 1.4 to 2.1 since June. Above £4m the picture is unchanged; those buyers were never rate-led.
Our read for the autumn: more stock, faster decisions, and asking prices that hold rather than climb.
Elena Marchetti
Founding Partner