LiveMore comment on today’s inflation hold at 2%

17 July 2024

Please find below, comment from Simon Webb at LiveMore, the mortgage lender for the 50-90+ age group.

Simon Webb, managing director of capital markets and LiveMore, commented:

“Inflation has held at 2% in June, remaining at the Bank of England's target. Whilst many hoped it would have fallen further, this stability offers a sense of predictability for the economy. For the housing market, this steady inflation rate means that interest rates are less likely to see sudden increases, which is particularly important for older buyers who often rely on fixed incomes and savings.

“Labour must take hold of this opportunity to address these underlying issues and support economic stability. By focusing on measures that can help keep inflation in check without stifling growth, we can create a more favourable environment for the housing market.

“This is especially crucial for older buyers who may be more sensitive to economic fluctuations and interest rate changes. Ensuring a stable and predictable economic environment will help maintain confidence in the housing market and provide security for older homeowners and buyers.”