National property auctioneer welcomes base rate stability as a lifeline to a property market struggling through uncertainty.
On the 30th April, the Bank of England’s Monetary Policy Committee (MPC) has decided to maintain their cautious path, holding the base rate at 3.75% for a further month.
The committee may have been slightly less unified on this occasion with a 8-1 split, but national property auctioneer Auction House has welcomed the ultimate decision to keep base rate unchanged – at least for now.
A welcome reprieve
Commenting on the announcement, Managing Director of Auction House Oliver Prior said:
“A base rate hold hardly seems cause for celebration but in the current climate it offers a lifeline. With volatility in the global markets, stability in fiscal management closer to home provides an olive branch for the market stakeholders.
“Immediately following the outbreak of Middle Eastern hostilities, we entered a world of changing economics with increased energy costs and a rising rate of inflation. With the cost of oil hitting $120 a barrel in recent days, the energy spike and inflation climb is showing no signs of slowing down.”
However, there is still some reason to be cautiously optimistic that former days of high inflation can be avoided. Oliver added:
“Inflation has crept to 3.3%, but slowing wage growth suggests that inflation may not become as entrenched as it was following the outset of the Russia-Ukraine war.
“Commentators also hold on to a flicker of hope that should the war in the Middle East come to an end sooner rather than later, the underlying strength in global markets will allow for a speedy economic recovery with a reduction in the rate of inflation.
“Today’s announcement won’t drive market growth, but it will go some way to stifle the risk of further decline. Those who are prepared to take a longer-term view will be best positioned to take advantage of the immediate opportunity.”
Auction shows resilience against uncertainty
While the property market continues to wrestle with an uncertain horizon, auction is proving to be a valuable platform for buyers and sellers to transact over, offering speed and certainty. This is reflected in Auction House’s results: in Q1 this year, sales were up 21% on the same period in 2025.
Oliver sees this growth as likely to continue:
“Ongoing uncertainty will undoubtedly feed further activity, providing speed and security in unpredictable times. Sellers will be able to tap into the advantages provided by cash-ready buyers, who already have the funds through bridging finance or other means. We therefore anticipate continued – if not higher – auction activity over the next few months.”
He goes on to conclude:
“We must now wait and see how negotiations between the US and Iran play out and keep a close eye on their impact at home. By early summer we should have a clearer view to move forward with confidence.”
About Auction House
Auction House is a national brand with a local presence. They operate across England, Wales, Scotland and Northern Ireland, holding close to 200 online, livestream and in-room auctions every year.
Despite being a nationwide brand, they pride themselves on maintaining a regional presence. With local, knowledgeable teams, they offer a truly personalised service to sellers, buyers and partners alike.
About our commentator
Oliver Prior, Managing Director of Auction House
Oliver Prior, a Chartered Surveyor, joined Auction House in 2021 as an Auction Valuer, rising to Auctioneer and then National Commercial Director. In 2026, he became the group’s Managing Director.
He previously worked in mixed-use development consultancy and corporate commercial advisory at Savills and CBRE respectively. As Managing Director, he now uses his extensive auctioneering and business knowledge to steer the group’s future operations and strategic goals, focusing on bolstering Auction House’s reputation as the leading UK property auctioneer.
In addition to his key responsibilities, Oliver finds time to be an active member of the Royal Institution of Chartered Surveyors (RICS) and contribute to a working group within the RICS dedicated to improving best practice within the property auction industry.
