Rolling coverage of the latest economic and financial news
UK house prices have jumped faster than expected, prompting a forecast they will keep rising through 2024.
New data from lender Halifax, just released, shows that house prices increased by 0.8% in July, following three relatively flat months.
“Last week’s Bank of England’s Base Rate cut, which follows recent reductions in mortgage rates, is encouraging for those looking to remortgage, purchase a first home or move along the housing ladder. However, affordability constraints and the lack of available properties continue to pose challenges for prospective homeowners.
Against the backdrop of lower mortgage rates and potential further Base Rate reductions, we anticipate house prices to continue a modest upward trend throughout the remainder of this year.”
Continue reading…Rolling coverage of the latest economic and financial newsUK house prices have jumped faster than expected, prompting a forecast they will keep rising through 2024.New data from lender Halifax, just released, shows that house prices increased by 0.8% in July, following three relatively flat months.“Last week’s Bank of England’s Base Rate cut, which follows recent reductions in mortgage rates, is encouraging for those looking to remortgage, purchase a first home or move along the housing ladder. However, affordability constraints and the lack of available properties continue to pose challenges for prospective homeowners.Against the backdrop of lower mortgage rates and potential further Base Rate reductions, we anticipate house prices to continue a modest upward trend throughout the remainder of this year.” Continue reading…
