The Bank of England is widely expected to hold interest rates at 3.75% when policymakers announce their latest decision on Thursday 30 July. While this may appear to signal stability on the surface, there are a number of underlying factors creating a more complex and uncertain outlook.

The UK property market remains under close watch following confirmation from Prime Minister Andy Burnham that there will be no changes to stamp duty in this year’s Budget. Despite widespread speculation and ongoing calls for reform, the government has made it clear that altering or abolishing the tax is not currently on the agenda.

The UK housing market remained subdued in August, with house prices edging up by 0.2% over the month and annual growth sitting at 1.6%, according to Nationwide's latest House Price Index.

Britain’s ongoing housing shortage has once again come under the spotlight, with new research highlighting that the issue is not one of demand or land availability—but rather decades of underbuilding.