The Bank of England has announced that the base interest rate will remain at 4% — a decision that’s been closely watched by homeowners, buyers and the property industry alike.

It’s fair to say this was one of the most anticipated rate announcements of the year. Many experts were split on what would happen, with some expecting a small cut and others predicting the rate would stay put.

The result: a hold at 4%, which in my view is a positive move for the housing market.

The decision reflects a mixture of economic signals. Inflation has fallen slightly to 3.8%, but it still sits almost double the Bank’s 2% target. At the same time, economic growth has been sluggish, with GDP increasing by just 0.3% in the last quarter, and unemployment rising to 4.8%, the highest level since the pandemic.

Faced with such mixed data, the Bank’s decision to hold rates steady is understandable. It brings a much-needed sense of stability to the market — and in property, stability builds confidence.

Even without a base rate cut, lenders are already becoming more competitive. We’re seeing new mortgage products, cheaper fixed-rate deals, and greater flexibility from banks keen to attract borrowers. According to Moneyfacts, average mortgage rates are now below 5%, the lowest since September 2022.

If you have a fixed-rate mortgage, nothing will change until your term ends. Tracker mortgages linked to the Bank Rate will also stay the same. For anyone on a standard variable rate, it’s possible lenders may hold steady too — but that’s at their discretion.

For first-time buyers and those looking to remortgage, this is welcome news. Competition among lenders should help bring rates down further as we move towards the end of the year.

At Beercocks, we’re already seeing the effect of this renewed confidence. There’s a strong pool of motivated buyers who are keen to move before the end of the year. The combination of lower borrowing costs and improved affordability means the right home, priced and prepared properly, will sell well.

Our PROVEN Method continues to protect value and secure strong offers by combining presentation, precision pricing and pre-market testing — all of which are helping our clients achieve the best outcomes.

It’s clear that affordability is gradually improving. If the Chancellor delivers a stable Budget later this month, there’s every chance we could see a base rate cut early in 2026 — possibly sooner. A rate reduction, combined with falling fixed deals, would be a real boost for those looking to take their next step.

In other words, it’s becoming a good time to buy again.

The property market responds best to certainty, and today’s decision provides just that. Whether the first cut arrives before Christmas or early next year, I believe momentum is already returning.

Across our branches, we’re seeing sales agreed at every price point and strong demand for quality family homes. The signs of recovery are clear — people are regaining confidence and making their move.

I’ve been in this a long time and have seen the market through every kind of economic climate — and one thing always holds true: confidence drives success. When buyers feel reassured and sellers feel supported, the market flourishes.

Right now, that confidence is coming back. I see it in the conversations we’re having every day, in the offers being made, and in the determination of people to keep moving forward with their plans.

If you’re wondering what this decision means for you — whether it’s the right time to sell, buy, or simply explore your options — my team and I are always here to talk it through honestly. We’ll give you clear advice, realistic expectations and a plan that works for you.