So what does it really mean for our local property market? Here are six reasons this cut could give confidence a boost across the region:

Lower borrowing costs mean more affordable monthly payments. That could help more Hull and East Yorkshire first-time buyers step onto the ladder. For example, a 0.25% drop on a £250,000 mortgage could save around £36–£37 a month.

Homeowners across Hull and East Yorkshire may now feel more confident about remortgaging or making the move to a bigger home — helping unlock more homes for others in the process.

Better rental yields and more competitive buy-to-let deals could tempt landlords back into the East Yorkshire property market, especially in high-demand areas.

The rate cut sends a message that the Bank wants to support growth. That kind of signal can push hesitant buyers and sellers into action — good news for the whole Hull property market.

Lenders are already adjusting. We’re seeing more competitive fixed-rate mortgages, with some two-year deals expected to fall to around 3.5% before the year ends.

This isn’t a one-off. It’s part of a series of cuts since August 2024. If this continues, we could see stronger momentum throughout the Hull and East Yorkshire housing market in the coming months.

Of course, inflation and wages still matter, but this is a welcome step that gives the market a much-needed lift.

Whether you're thinking of buying, selling or remortgaging, now could be a smart time to explore your options. At Beercocks, we keep a close eye on market trends across Hull and East Yorkshire so we can give our clients the clearest advice and the strongest strategies. If you'd like to know how this change could impact your property plans, get in touch!