House prices will begin to fall in August as interest rates give homebuyers the upper hand in the negotiating process, according to Your Move.
Minutes from the Monetary Policy Committee's monthly meeting, released today, show that Bank of England policymakers voted 6-3 to increase interest rates.
The pound hit its highest level for 26 years earlier today after concerns surrounding the US sub-prime housing market saw the dollar plummet to a 12-year low.
Interest rates have been maintained at 5.5% following the monthly meeting by the Bank of England's Monetary Policy Committee.
The number of mortgage approvals has fallen for the third month in a row down to just 107,000, leading parts of the industry to suggest the housing market is about to turn.
The Bank of England dropped a broad hint yesterday interest rates would be raised for a fifth time within a year over the coming months, reports The Guardian.
The Bank of England has raised interest rates by a quarter of a percentage point to 5.5% because of concerns about inflation.
A trio of economic reports suggests an increased rate rise from the Bank of England next week is more likely, according to analysts.
I went to a presentation by a fund manager about 18 months ago and one of the topics addressed was that of inflation. He detailed that he had concerns about the re-emergence of inflation and that it was 'a lonely corner' when in discussion with other...
Interest rates have been maintained at 5.25% following the monthly meeting by the Bank of England's Monetary Policy Committee.