As we finalise this edition the mainstream national media have latched on the prospect of an impending economic downturn for the UK and the likelihood of a recession. It is starkly obvious that we are into period of ‘uncertainty’ with inflationary pressures mounting and with increasing calls towards government for further measures to cushion the impact on more vulnerable households.

Inside this edition we attempt to clarify some of the issues which need to be thought through in respect of the potential impact from rising interest rates for property investment prospects. By far the biggest unknown, as yet, is the trend path of the BOE bank base rate and on page 20 we focus on what might occur and why. The impact of the Ukraine war and a potential escalation in the conflict has been a mounting concern as the reality of rapidly rising energy bills have resounded worldwide.

Historically very cheap money for mortgage financing has been with us since 2009, which alongside all the financial support measures from the government due to the recent pandemic, resulted in a property boom which is now likely to deflate - in real terms - in the next 18 months. On page 36 you can read Adam Lawrence’s latest observations about the possibility of a market downturn which is well worth a ‘slow read’ in a quiet space.