Interest rate cut - reaction from proptech HouzeCheck

07 August 2025

Adrian Hall, the director of surveying at HouzeCheck, a digital surveying platform, said:

“Despite persistent inflation, it was almost certain the interest rate would be cut – the only uncertainty was the magnitude of the reduction. Given the number of job vacancies continues to decrease and is now below pre-pandemic levels, and with unemployment rising to 4.7 per cent, the highest level since June 2021, it was widely anticipated the bank rate would decrease to at least four per cent. There is no longer concern regarding wage growth.

“This development is highly favourable. Falling mortgage rates benefit not only first-time buyers but also millions of households planning to remortgage in the coming years.

“The current question facing the Bank of England is the direction of future policy. Is this the final rate cut of 2025? Alternatively, could the Morgan Stanley team be correct in predicting that interest rates will decline to as low as 2.75 per cent in the first half of the upcoming new year, ultimately reaching 2 per cent?”