UK house asking prices dip, but buyer interest picks up, after Bank of England cut

UK estate agents are reporting more buyer interest following the Bank of England interest rate cut

• The Bank of England began cutting interest rates from a 16-year high on August 1

Rightmove survey showed:

Also:

• buyer
  enquiries in August were 19% higher than a year earlier,
  compared with an 11% annual increase in July

Rightmove director Tim Bannister (via Reuters report):

• “While mortgage rates aren’t yet substantially lower since
  the rate cut, the fact that the long-hoped-for first cut has
  finally arrived, and mortgage rates are heading downwards, is
  positive for home-mover sentiment”

This article was written by Eamonn Sheridan at www.forexlive.com.