UK Economy and Property Market Update

Highlights from the latest update include:

The August interest rate cut by the Bank of England may or may not be followed by further reductions over the coming months but the direction of travel has now shifted and this will help support economic activity through the back end of this year and into 2025. The RICS Construction Monitor continues to highlight financial constraints as the key impediment to activity demonstrating the significance of this signal for the building industry. Alongside this, forward looking indicators point to a likely modest uplift in activity in the residential sector while polarisation between asset performance will remain a major feature in the commercial real estate market.