Interest rate rise ‘motivates two-thirds of home movers to act now’, claims estate agency
Rising mortgage rates are "driving homeowners to sell now rather than wait until 2023," says Jackson-Stops, noting that this is "boosting housing stock across the country and in turn, helping to balance the scales of supply and demand."
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UK house prices ‘could easily fall 10% to 15%’, suggest economists
Economists expect interest rates to spike and house sales to tumble - meaning the last year's worth of aggressive property price growth could be rolled back.
BoE raises interest rates by 0.5% to 2.25%
The UK's base rate of interest has been rising since December 2021, as the Bank of England attempts to keep a lid on inflation.
Rising interest rates & cost of living ‘yet to impact’ prime property buyer budgets
“With the market as competitive as it is, motivated buyers can ill afford to reduce budgets, despite rises to mortgage rates and household bills," says Savills.
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