UK Home Prices Drop and the Bank of England Votes to Hold Rates
By Alexander Reed @ Real Estate Daily
February 15, 2018

The Bank of England voted to hold rates, showing they are not as concerned as the public with UK home prices dropping. The London market only accounts for one-fourth of the GDP, and recent government changes will considerably benefit markets outside of London, notes Simon French, chief economist at Panmure Gordon.

Key Takeaways

  • The Bank of England voted 9-0 to hold rates
  • The general public tends over-focus on the housing trends in the London market
  • The stamp duty cuts and help-to-buy program will have greater effect outside of London
  • An influx of foreign buyers into the UK market has helped plug the current account deficit
Source: CNBC