Tuesday, September 27, 2022
HomeWORLDUK‘Significant fall’ in housing prices looms after rate hike

‘Significant fall’ in housing prices looms after rate hike

Estate agency Savills now estimates that the average mortgage bill has risen to £1,150, a £349 rise since the start of the year.

Neal Hudson, a UK housing market analyst and founder of researchers BuiltPlace, said that by July, the mortgage bill on an average British home had outstripped what a typical earner could afford by 17 percent.

Andrew Wishart, a senior economist at Capital Economics, said: “A rise in mortgage rates to as high as 6 percent looks increasingly possible.”

Mr Hudson commented: “If mortgage rates did get to 6 percent, we would be looking at something pretty disastrous for house prices.”



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Zeeshan Akramhttp://tattlecorner.com
Hi, I am Zeeshan. I am the founder and developer of Tattle Corner. I am an ACCA student and a part-time freelancer.
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