Rightmove comment on inflation reducing to 3.2%

April 17, 2024
Rightmove logo

UK inflation slowed less than expected last month, making traders and economists more cautious about the likely pace of interest rate cuts.

Matt Smith, Rightmove’s mortgage expert said: ‘It’s positive to see inflation continuing to fall this morning, albeit not by quite as much as expected, as the blocks continue to build towards the anticipated first Base Rate cut later this year. The market is proving resilient despite broader global uncertainty, however, continued stability in mortgage rates should be seen as a positive outcome over the next few weeks.”

Tim Bannister, Rightmove’s property expert said: “It’s been a busy spring housing market so far, with more stability in the mortgage market a contributing factor to this. Many will still be feeling the impact of cost-of-living pressures, with inflation still above the Bank’s target and mortgage rates still high. However, others may now be starting to feel some of the impact of drops in inflation, average wage increases, and stable rates and property prices, which may encourage some to consider a move.”

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Estate Agent Talk

Riskiest Places to Purchase Property in England

Cash House Buyer Sell House Fast has revealed the riskiest places to buy and sell property in England, based on factors such as crime rates, flood risk, air pollution levels, road collision rates, and coastal erosion risk. The 5 riskiest places for buying and selling property in England: 1 – North East Lincolnshire (Overall Risk…
Read More →
Breaking News

House prices steady in May despite broader market uncertainty

The latest Halifax House Price Index for May 2026 shows that: House prices fell by -0.1% between April 2026 and May 2026. This marks the second consecutive month of marginal monthly decline. Annual house price growth increased slightly to 0.5% in May 2026, up from 0.4% in April 2026. The average UK house price now…
Read More →
Breaking News

Halifax House Price Index – May 2026

House prices steady in May despite broader market uncertainty. House prices edged down -0.1% in May, following a similar -0.1% fall in April Average property price now £298,806, compared with £299,251 in April Annual growth up slightly to +0.5%, from +0.4% in April Northern Ireland continues to record the UK’s strongest annual growth at +7.8%…
Read More →
Breaking News

More mortgage borrowers turning to shorter-term fixes

Borrowers are increasingly turning to shorter-term fixed-rate mortgages in response to higher rates, new analysis of mortgage search activity on Moneyfactscompare.co.uk has found. The share of Moneyfactscompare.co.uk website users comparing two-year fixed-rate mortgages increased from 48.4% in February to 55.6% in May, while demand for five-year fixed deals fell from 27.7% to 21.8% over the…
Read More →
Breaking News

Fear of a chain-breaks biggest concern in current market

The latest insight from quick sale specialists, House Buyer Bureau, has found that the most common reason homeowners choose a quick sale is no longer financial hardship, ill health, or the death of a loved one, but the desire to keep their onward move on track in an increasingly uncertain housing market. The internal data from…
Read More →
Breaking News

Property auctions generate complaints at four times the rate of the wider housing market

Property auctions account for just 2% of home sales but generate more than four times their share of complaints, according to a new insight report by the Property Ombudsman. The report highlights that while auctions remain a relatively small part of the wider residential property market, they are generating a disproportionately high level of consumer…
Read More →