Linden says Londoners unfazed by rate rises

Steve Lavers, Director of Linden London Developments, comments on this month’s decision from the Bank of England’s Monetary Policy Committee (MPC) to hold interest rates at 5.75%.

“Today’s decision to hold interest rates will come as a reprieve for much of the UK’s home owning public. However, while earlier rises have left some first time buyers and homeowners reeling across the country, London buyers appear to have been unfazed.

“Despite three interest rate rises already this year, we have witnessed a continued demand for London properties as buyers with a range of budgets continue to pursue their dream of owning a home in one of Europe’s most sought after cities.

“Demand from international buyers at the top end of the market remains very strong. This buying group has been unaffected by interest rate rises, and is proving the driving force behind record house prices and a thriving London property market.”