Further turmoil in the markets is feared as the Bank of England moves to end its intervention.
However, there is a glimmer of a silver lining, as property is being seen as a safe haven for funds seeking to invest.
The UK’s pension funds, which are heavily invested in government debt, face a “cliff-edge”, after BoE governor Andrew Bailey said the bond buying programme would not be extended.
The bank pledged to buy up to £65bn in gilts over a 13-day period following the mini-Budget crash. So far it has only bought around £9bn.
But despite Bailey’s warning of “three days left”, officials have privately indicated that there may be some flexibility.
The pound fell after Bailey’s announcement, but has rallied following talk of a flexible approach.
