The Bank of England has held the base rate at 3.75% today, offering some welcome stability for buyers, sellers and homeowners across South West London who have been navigating an uncertain few months.
That’s a genuine bit of breathing room for the property market, and for anyone buying, selling or letting across Richmond, Twickenham, Teddington and the surrounding areas. It means the picture you’ve been planning around hasn’t changed.
The decision isn’t a surprise, according to property experts. Inflation is still running above the Bank’s 2% target, pushed higher by rising energy costs linked to the ongoing conflict in the Middle East.
GDP growth is fragile, consumer confidence is still finding its feet, and the Monetary Policy Committee (MPC) knows that pushing rates higher right now could do damage to an already cautious market. Holding was the sensible call.
What does it mean in practice? Lenders are unlikely to reprice significantly in the short term, so the mortgage deals currently on the table should remain broadly stable.
For buyers who have been waiting for certainty before committing, this is the signal many of them needed.
“We’ve seen real momentum building in the local market over the first half of 2026, and today’s decision helps keep that going,” says Myles Moloney, Regional Director of Chase Buchanan.
“When buyers and sellers know what they’re working with, things move more smoothly. Our advice to anyone who’s been sitting on the fence is simple: now is a good time to have a conversation and understand your options. The market won’t wait indefinitely.”
With rates on hold, attention now turns to what that means for the months ahead.
For many families - particularly those upsizing - the decision to move has always been driven by lifestyle, schools and space as much as the base rate. That clarity helps.
This should give buyers the confidence to push on and aim to be in their new home before summer is out.
"The key is getting clear advice early,” says Myles. “We'd recommend speaking to EasyLife FS, our financial services partner, who have access to the whole of market and can offer tailored, personal mortgage advice.”
One caveat worth noting: a rate rise later in the year remains very much on the table.
The situation in the Middle East is still unresolved, and inflation data in the coming months will have a big say in what happens next. Getting ahead of any future change - rather than reacting to it - is always the smarter move.
If you want a clear, honest view of what’s happening in your area our local teams are here to help.