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How will the interest rate rise affect UK’s Construction Industry

The Bank of England has announced it will raise the base rate by 0.25%

Many experts saw the rate rise coming, something which was long overdue.

Millions of homeowners, landlords and property developers have benefited from the record low rates over the past 10 years.

Since the global final recession in 2009 and the subsequent slump in property prices, there has been a gradual incline in property prices and they have now nearly reached the peak we saw in 2008.

This has largely been due to the recovery of the UK’s construction industry.

Now with the announcement of the interest rates rising, no doubt this will have repercussions for the Construction Industry, not only will it eat into the profits of large property developers it may even deter landlords and small investor from investing into property which provides an income for many construction tradesmen.

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