Inflation did peake back in june at nine point one %, but last month it was still running at eight point three %. So the rate rises aren't bringing inflation under control yet. And that's having a real impact on the property market. Home sales have been falling for several months now. The most recent data indicates that the medium sales price for new homes has begun to decline as well. But what about the effects on other parts of the economy? I think the area where we've seen the biggest impact has, predictably been in areas that are most sensitive two central banks at interest rates.