Interest rates: London's richest property markets continue to benefit - The Economy News
The Bank of England kept its benchmark interest rate at a record low as policy makers judged the need to aid the recovery took precedence over the fastest inflation in more than two years.
The decision will certainly have caught no one by surprise, and indeed it looks as though the good times will continue to roll on in the richest segment of London's property market.
Commenting on the Bank of England interest rate decision, Charles McDowell, a leading consultant on buying or selling prime London properties in Kensington, Chelsea, Knightsbridge and Belgravia, says:“There has been a tremendous amount of activity at the top end of the property market in recent weeks although few deals are actually going through. Vendors appear to believe the market is on fire when in fact buyers are being extremely circumspect in what they are considering and how much they are prepared to pay.
“Holding the Bank rate at this historically low level is beneficial for the property market overall. ....
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