FirstRung.com: Nationwide figures, the full story Fionnuala Earley, issues a cautious statement with her notes. The fact remains that property values across the range have increased by only 0.2% over the past three months. Fionnuala also mentions the involvement of the MPC and the affect they could have on the housing market. Should they discharge their principal remit of controlling inflation and put this responsibility ahead of the lobbying of business leaders for a rate cut to stimulate spending, then an interest rate rise is inevitable. Inflation is currently 25% above the target rate.