Interest rates: How will the Bank of England's decision to hold rates impact house building targets?

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  • čas přidán 25. 08. 2024
  • The Bank of England has held its main interest rate at 5.25%, spelling bad news for millions of mortgage payers and those hoping for some respite from high rates.
    Housing affordability has been a key issue in the run up to the election and all of the main parties have made various pledges on housebuilding and planning.
    As part of our Campaign Check series, our economics and data editor Ed Conway has been looking at how those targets stack up.
    Read more: news.sky.com/s...
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Komentáře • 82

  • @alexsteven.m6414
    @alexsteven.m6414 Před měsícem +271

    Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

    • @valeriepierre9778
      @valeriepierre9778 Před měsícem +2

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      @belobelonce35 Před měsícem +2

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      @edelineguillet2121 Před měsícem +1

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  • @mazdamaniac4643
    @mazdamaniac4643 Před 2 měsíci +37

    So, now the Bank of England is jumping on the profiteering bandwagon.
    Does anyone else remember when the public bailed these greed-ridden bankers out? This is the thanks we get.

    • @kanedNunable
      @kanedNunable Před 2 měsíci +6

      do not forget that rishi cut bank tax rate from 5% to 2% just before inflation started going up. banks are making huge profits out of all this.

    • @stephfoxwell4620
      @stephfoxwell4620 Před 2 měsíci +1

      £70 billion directly.
      £450 billion of QE.
      £800 billion of guarantees.

    • @greatdara
      @greatdara Před 2 měsíci

      They have always been able to profiteer on behalf of consumers. Interest may go up or down, they have policies to profiteer both ways.

    • @unnamedpodcast_thetruth
      @unnamedpodcast_thetruth Před měsícem

      And we owe 97% of our public debt to them... How does this work? 🤔🙄

  • @AlexClarkcompany
    @AlexClarkcompany Před 2 měsíci +65

    Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.

    • @JackWalsh-d7h
      @JackWalsh-d7h Před 2 měsíci

      The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.

    • @AdamWright8fool
      @AdamWright8fool Před 2 měsíci

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      @AdamWright8fool Před 2 měsíci

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    • @ddandymann
      @ddandymann Před 2 měsíci

      Scam post

  • @jamessmith1652
    @jamessmith1652 Před 2 měsíci +10

    Look at those ridiculous house building targets. All 3 parties tell the same lies.

    • @greatdara
      @greatdara Před 2 měsíci

      Ridden with historical failures!
      Not talking about how did they meet the target in previous terms?

    • @antonio3220
      @antonio3220 Před 2 měsíci +4

      Vote reform

  • @benhopwood5321
    @benhopwood5321 Před 2 měsíci +5

    Well the bank of england can start paying my bills then! Sick of the incompetence of officials in this country! How the hell did they even get their jobs in the first place!

  • @adam7802
    @adam7802 Před 2 měsíci +2

    House building at a similar/lower rate than 60 years ago is obviously absolutely ridiculous.

  • @robmthe1st
    @robmthe1st Před 2 měsíci +2

    Rates should be kept at around 4% as a new normal but it’s a joke that they have not passed on the rates to savers!

    • @michaelkelly9545
      @michaelkelly9545 Před 2 měsíci

      No they should really deflate the situation to correct their mistakes they made. Hold rates until they fall deflationary but they won’t. 4% would collapse the country as it’s already doing

  • @AUNEDJ
    @AUNEDJ Před 2 měsíci +5

    Those stats miss something, what is the size of those properties.....they cab build flats of 2 small bedrooms and thats not the same as 2 detached houses or terraced with 3 or 4 bedrooms. A caravan park can count as lots of new houses 😂

    • @user-fm6ns5nb4j
      @user-fm6ns5nb4j Před 2 měsíci

      So Starmer plans to build on green belts all over the UK rather than insisting on brownfield sites first, the Libs are completely unhinged with no funded method of getting to their numbers and the Tories are just wildly optimistic unless they make some changes. How reassuring.

  • @coderider3022
    @coderider3022 Před 2 měsíci +2

    House builders need to keep stock low to maximise profit building new ones. Basically government would need to pay local authorities to do it or create a new building company. British building co. Using taxation as carrot and stick is needed too here.

  • @terryj50
    @terryj50 Před 2 měsíci +3

    Good for us savers inflation 2% and rates 5% we’re making 3% on our savings at last.

  • @AgentGreyFox
    @AgentGreyFox Před 2 měsíci +2

    A cut now is too soon. Food and many other items are still seeing inflation. Once energy prices go up, inflation will soar again!

    • @RaRa-eu9mw
      @RaRa-eu9mw Před 2 měsíci

      Food inflation is at 1.7%

  • @ovandograham7793
    @ovandograham7793 Před 2 měsíci +3

    I was hoping they’d lower it. I want 2% man

  • @blessedblem2051
    @blessedblem2051 Před měsícem +2

    I had problem comprehending trading in general. I tried watching other CZcams trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow

  • @leokloid1
    @leokloid1 Před 2 měsíci +1

    Ed has the best charts

  • @francisravenscroft-dw6gi
    @francisravenscroft-dw6gi Před měsícem

    The BOE did nt lower rates because: the bank did nt want to be viewed as politically biased.
    2. The services inflation rate is not falling
    3. The fed has nt reduced rates
    4. The BOE needs to keep the money markets oand the UK treasury markets stable.

  • @rd123.
    @rd123. Před 2 měsíci +20

    We need to stop spending. Why is this a controversial idea??? Stop borrowing!!

    • @joancooley1387
      @joancooley1387 Před 2 měsíci

      Sunak needs to Stop Pilfering.

    • @kanedNunable
      @kanedNunable Před 2 měsíci +1

      bit hard for people locked into mortgages. cant even sell the houses at the moment.

    • @rd123.
      @rd123. Před 2 měsíci +3

      @@kanedNunable When I bought my maisonette 23 years ago I didn’t think of selling it. I thought homes were for living in them. Speculation is risky.

    • @RaRa-eu9mw
      @RaRa-eu9mw Před 2 měsíci +1

      Spending is what drives the economy.

  • @RoadmapMBA
    @RoadmapMBA Před 2 měsíci +1

    Great coverage 🙌🏻

  • @squibys2262
    @squibys2262 Před 2 měsíci +8

    The fact it can be held means the country is managing just fine with these rates, thats great news for savers. People are still borrowing and spending so where is the issue, lets go higher. Usually the first cut will precede a downturn as they believe the economy is flagging.

    • @squibys2262
      @squibys2262 Před 2 měsíci

      @@zaidahmed9527 I thought a good chunk are already through? Im sure Sascha covered it. Anyway nothings broken yet, people are still spending like crazy so I say leave em to it.

    • @CLhighlightsful
      @CLhighlightsful Před 2 měsíci +1

      People are just building up credit card bills and transferring there and here when needed. Kicking the can down the road. The bubble will burst when it becomes unsustainable in a year or two

  • @bobdidit55
    @bobdidit55 Před 2 měsíci

    No point building new homes if people can’t get mortgages.
    I live in a new build site and the builders have stopped building because no one can get a mortgage.

  • @Britain4775
    @Britain4775 Před 2 měsíci +4

    house price rise because Because there was a huge migration of people into UK.

  • @managerialengineering
    @managerialengineering Před 2 měsíci

    Excellent analysis!! Interest rate cuts synchronous to housing markets would start the next bull run.

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci +1

    North korea one party ruling...
    UK two party ruling...
    Not much difference...
    Two party election is not democracy...
    UK need more choice...
    end two-party elections in UK...
    New parties... New thoughts...
    Enough this two parties ruling...

  • @LogicPak
    @LogicPak Před měsícem

    Those charts aren’t straight forward, please explain in laymen terms.

  • @djdoolittle1315
    @djdoolittle1315 Před 2 měsíci +1

    Insider trading. Carry on as usual 😮

  • @kushagra2803
    @kushagra2803 Před 2 měsíci

    It absolutely boggles me how no party/politician is talking about the 2nd biggest cause of the housing crisis. Landlords. One person/entity owning several properties is choking the already available houses. The moment these properties are freed up, house prices will become affordable, and stay thier for a few years. Meanwhile, more house can be built.

    • @rayanrizwan9611
      @rayanrizwan9611 Před 2 měsíci

      revamping the leasehold system is literally in the labour manifesto

    • @kushagra2803
      @kushagra2803 Před 2 měsíci +1

      @@rayanrizwan9611 it needs to be abolished, not revamped. Nobody should own more than one house. Revamp is a fancy word for making cosmetic changes to the laws without actually doing anything. Labour will do what the Tories did a few weeks back - revamp the law around housing.

    • @rayanrizwan9611
      @rayanrizwan9611 Před měsícem

      @@kushagra2803 I'm pretty sure they're abolishing it but sure!

  • @jamieclark5572
    @jamieclark5572 Před 2 měsíci +7

    We need less people, not more homes

  • @AngelaVlahos
    @AngelaVlahos Před 2 měsíci

    hi. I understand mortgage

  • @SDrtheone
    @SDrtheone Před 2 měsíci +3

    I'm a mortgage advisor and it wasn't a shock at all that they steadfast on 5.25% today. It was absolutely the right call to leave it 1 more review before starting to drop.

    • @hewhorocketh
      @hewhorocketh Před 2 měsíci

      @mk91-vz1ojsavings interest rate x% borrowing rate x% plus bank margin. Makes sense

    • @MrJoe501
      @MrJoe501 Před 2 měsíci

      @mk91-vz1oj what is inflation?

  • @katejackson7432
    @katejackson7432 Před 2 měsíci

    oh dear, looks like the bad news will start dripping in now , rishi shud have chosen earier n least minimise his complete boo'ing out of office

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci

    New parties new thoughts New forgin policy
    No more tax money for others wars
    Enough old thoughts parties need New thought panties UK need more choice

  • @abbey1999
    @abbey1999 Před 25 dny

    The kabbal won’t be happy they have to fund the royals some how

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci

    New parties new thoughts New forgin policy
    No more tax money for others wars
    Enough old thoughts parties need New thought parties UK need more choice

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci

    Ferries bound for Britain are stopped...
    When will UK money to Israel stop?

  • @sufianaldib9469
    @sufianaldib9469 Před 2 měsíci +1

    Islam fights both inflation and poverty
    "Allah condemns exploitation, and He blesses charities. Allah does not love any disbelieving sinner."
    Quran 2:276
    Islam brings peace and mercy to society

  • @jaewonmoon2970
    @jaewonmoon2970 Před 2 měsíci +2

    Vote Conservative Party!!!!!

    • @pyram1de
      @pyram1de Před 2 měsíci +3

      /s ?

    • @washeranddryer-fu2ld
      @washeranddryer-fu2ld Před 2 měsíci +5

      Ya cuz they did such a good job over the past several years

    • @freeguy4all
      @freeguy4all Před 2 měsíci

      Vote vote vote to crumble us more.

    • @damienhostey7804
      @damienhostey7804 Před 2 měsíci +1

      No thanks

    • @ape72patch1
      @ape72patch1 Před 2 měsíci +2

      Hahahaha well done ! That’s the funniest comment I’ve read in ages !😂😂😂

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci

    North korea one party ruling...
    UK two party ruling...
    Not much difference...
    Two party election is not democracy...
    UK need more choice...
    end two-party elections in UK...
    New parties... New thoughts...
    Enough this two parties ruling...

  • @deeplearning1299
    @deeplearning1299 Před 2 měsíci

    Ferries bound for Britain are stopped...
    When will UK money to Israel stop?