And I think one of the drivers in residential markets was the reality that you had an absence of inventory available within the market because lots of people on fixed- price mortgages didn’t need to lose those fixed-rate deals they were on. The biggest impact of higher rates has not been on costs in the residential market buton transaction volumes. For example Real Estate News, within the London market up to now 12 months, transactions have been down about 10 per cent in central London, and within the UK as an entire, transactions have been down 27 per cent year on year. But I assume as charges come down within the second half of this yr, hopefully, you’ll see extra confidence from owners to deliver properties again to the market, and you must see a rise in liquidity.

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