UK estate agents see buyer interest climb on BoE rate cut

People pass by the Bank of England building in London. — Bloomberg

LONDON: British estate agents have seen a pick-up in demand from buyers since the Bank of England’s (BoE) decision on Aug 1 to begin cutting interest rates from a 16-year high, property website Rightmove says.

Rightmove, which said it advertises property for more than nine of every 10 estate agents in the United Kingdom, highlighted on the website that buyer enquiries in August were 19% higher than a year earlier.