Paul Hilton, CEO of ESPC, comments:

“Bringing the Bank Rate down to 3.75% provides welcome relief for households and a clearer path for the market. For many first-time buyers, today’s decision narrows the affordability gap and should make monthly repayments more manageable. For movers, improved affordability – combined with greater certainty on the rate outlook – should help unlock chains and increase choice. We expect the immediate impact to be most visible in well-connected family homes and good-value first-time buyer stock, where pent-up demand has been strongest.

Conditions will not change overnight and lenders will continue to assess affordability carefully. Sustained stability, not just a single cut, is what ultimately supports healthy activity. That said, the re-sale property market in Edinburgh, the Lothians, Fife and the Borders remains steady, with sales remaining consistent year-on-year and strong buyer engagement with viewings and enquiries remaining strong. Our member firms are optimistic for the outlook ahead.

ESPC will continue to provide transparent local market insight and guidance, helping buyers and sellers make informed decisions in this improving environment.”