Our senior partner Mike attended a recent seminar from The Bank of England.
The Bank expect the recession to be shallow but last until early 2024 and interest rates are likely to peak at around 4.5%. The UK is suffering from a double whammy of a tight labour market and high energy costs, but at least global shipping costs have dropped dramatically making some imports cheaper.
Importantly they think that all of this will not result in a big house price drop.