Please find the latest RICS UK Economy and Property Market Chart Book available for download here.
The major development as November got under way was the Bank of England’s decision to lift its key policy rate by 25 basis points marking the first tightening in monetary policy in over a decade. The move had been pretty well signalled to markets in the wake of inflation climbing to 3% in September (the highest rate since 2012); this was just short of the level that would have necessitated Mark Carney writing a letter to the Chancellor to explain the reason for exceeding the inflation target set by the government.