Interest rate hike urged

RICS says the booming stock market and a strong economy mean August’s base rate increase is having little impact. Consumer confidence remains high and oil prices have slipped somewhat on their highs earlier this year. Supply of housing continues to fall, it adds, meaning prices will hold firm through to next year. The supply-side issue is taken up by Bradford & Bingley, which says research into the over-50s suggests about a quarter would rather return to work or work past a pensionable age than consider downsizing the property they live in. That is more than the one-in-five who say they...