Friday, August 6 2004 The Bank of England's Monetary Policy Commission stuck to their policy of only increasing interest rates by quarter of a percent at a time yesterday, as they pushed the rate up by 0.25% for the second month in a row. The Bank of England's repo rate now stands at 4.75%. The raise came after speculation from various economic advisers that only a half point increase would be enough to rein in consumer spending and cool the property market. Meanwhile, the Halifax reported 22.1% annual inflation in the housing market on Wednesday, with the average UK house price rising above the £160,000 mark for the first time. According to the Halifax, the average price now stands at £161,831. However the Halifax's research showed a moderation in buyer interest and an increase in the number of new sales instructions, indicating that the market could still cool. Commenting on the figures, Martin Ellis, Chief Economist at the Halifax, said: 'House prices grew by 1.3% in July, which was very similar to June's 1.2% rise. The house price gains in June and July represent a clear step down from the 2.0% plus monthly price growth seen, on average, in the preceding 6 months. These figures, along with other housing indicators, suggest that the market may be slowing.' Bank of England Halifax
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Chelsea Flower Show 2025: What else to do in SW3 if you're coming to the world's greatest flower showThere's more to Chelsea than just the Flower Show so we've rounded up some of the best places to eat, stay and shop.
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Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
