Top end of housing market stays strong

22 February 2023

Property Week

On a wet and windy day last November, the nine members of the Bank of England’s Monetary Policy Committee met to discuss the grim forecast for the UK economy.

With inflation running at a near 40-year high, the committee voted to raise interest rates to 3%, sparking further fears among the property industry about the affordability of mortgages and other forms of borrowing.

Nine days later, a four-storey townhouse near Stamford Bridge football stadium in Chelsea sold for £16.7m, making it one of the most-expensive homes to be sold in the UK last year.

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