Housebuilding Industry welcomes lower interest rates

Following the Bank of England’s decision to cut interest rates to 0.25%, Stephen Stone, chief executive of Crest Nicholson commented: “We welcome the news today that the Bank of England has cut the UK interest rate from 0.5% to 0.25%. Given the recent fluctuations in the UK economy, the cut is good news for potential home buyers, homeowners and the wider construction industry.

“Lowering interest rates will help the housebuilding industry, as we continue to work closely with the government to meet targets for housebuilding and provide quality housing for potential buyers across the UK.

“With interest rates and unemployment now at an all-time low, now is a great time to buy and we can expect a boost to the economy and in particular the housebuilding industry with renewed confidence amongst potential home buyers.”