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No respite for housebuilders as interest rates are kept on hold
The Bank of England has kept interest rates at 5% despite the sharp downturn in the housing market.
The Bank's Monetary Poicy Committee's decision was widely expected amid concerns over inflation, which rose to 3% in April.
There was more bad news for house prices this morning when Halifax revealed that averges fell by 2.4% in May.
HBF says Bank of England must cut interest rates by 0.5% in response to 'rapidly deteriorating conditions' in housing market
Helen Bunch retiring after nearly two decades at firm
Housebuilder says signs of rising build prices beginning to emerge in wake of last week’s announcement
Firms to claim prizes include CPC, Reds10 and Mace
Bellwether index stays in positive territory for eighth successive month
£250m turnover M&E contractor went into administration last autumn
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