Rightmove reaction to inflation dropping to 3.4%

March 20, 2024
Love or Hate Rightmove

Official data published by the Office for National Statistics this morning showed inflation had fallen from four per cent in January to 3.4 per cent in February.

Matt Smith, Rightmove’s mortgage expert said: “Today’s news is positive, and every day is one step closer to when we might see the first Base Rate reduction, and mortgage rates are likely to reduce before this.

“I don’t think this will change the course of the Bank of Englands’s decision on the Base Rate tomorrow, but I expect both the Bank and home-movers will have some renewed optimism for the direction the economy and mortgage rates are heading in after today.”

Tim Bannister, Rightmove’s property expert adds: “The general feeling is one of positivity at the moment after a good start to the year for the housing market, albeit with most of the year still to go and some twists and turns likely still ahead. We’re seeing many buyers and sellers get on with moves after some held back last year, and in the short term, given we don’t expect any dramatic changes in mortgage rates, it looks like the trend to ‘get on with moving’ will continue.”

Rightmove

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

You May Also Enjoy

Letting Agent Talk

How to Clean Your Rental Property for a Full Deposit Return

Although it is a dreadful chore, sprucing up your flat at the end of your tenancy is vital if you want your entire deposit back. When it comes to cleaning, landlords and property managers usually have high standards. Any oversight could cost you part of your initial payment. Having said that, your property can look…
Read More →
Breaking News

Two-year mortgage deals the lowest they’ve been since 2022 – but will they remain?

New research from Moneyfacts has shown that two-year mortgage deals are at the lowest they’ve been in two years and have also fallen to their biggest margin in over six months. The current average mortgage according to research is at 5.18%, having fallen by 0.14% in the past month. Meanwhile, five–year rates currently stand on…
Read More →
Letting Agent Talk

CP12 Landlord Certificates: What They Are and Why You Need Them

If you’re a landlord in the UK with gas appliances in your rental property, you’re legally bound to ensure they’re safe. That’s where the CP12 certificate for landlords enters the picture. Also called a Landlord Gas Safety Record, the certificate assures that your property’s gas installation is safe and in accordance with regulations. Yet, despite…
Read More →
Breaking News

Horse Guards Parade property prices up 17% since last Trooping the Colour

The latest property market analysis from London’s number one lettings and sales estate agency brand*, Foxtons, has found that it’s not just military prowess on show during Trooping the Colour this weekend, as house prices within the SW1A postcode, home to Horse Guards Parade, have soared by 17.3% over the last year, demonstrating the pedigree…
Read More →
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More →
Breaking News

Breaking Property News 12/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   The Renters’ Rights Bill: What Letting Agents and Landlords need to know The Renters’ Rights Bill is shaping up to be one of the most significant pieces of housing legislation in recent memory. As it moves steadily through Parliament, with Royal Assent anticipated in…
Read More →