Cambridge Residential Rental Market Report Spring 2023
The UK economic outlook is brighter than previously expected, with only a small contraction in growth of 0.2% expected this year.
Despite earlier concerns over the global banking system and the unexpected rise in inflation, inflation is now forecast to halve by the end of the year, and the base rate to peak at 4.50% by mid-2023. Meanwhile the cumulative effect of past interest rate hikes and rising costs are having an impact on the housing market.
The Cambridge rental market was relatively quiet with fewer people moving in Q1. Yet there is a level of demand for homes that may be restricted by the lack of stock.
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Alex Bloxham
Partner, Head of Residential LettingsRelated insights
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Q4 2022 saw greater stability following the economic and political turmoil of Q3. Swap and mortgage rates stabilised with expectations for more measured base rate increases. 2023 has continued in a similar vein with signs inflation may be stabilising.
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