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How rising interest rates sent the UK housing market into reverse

An end to ultra-low rates mean borrowers can only afford smaller mortgages

Since the turn of the year the news on the economy has been less bad than expected. Growth has been a bit stronger, spending in the shops a touch higher, business and consumer confidence have both picked up.

There has, however, been one big exception to this trend – the state of the housing market. The Nationwide building society reported on Wednesday that prices were down for a sixth month in a row in February, leading to a 1.1% annual drop in property values.

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Please note that all views in posts that are not from the BSL Editorial Team are not opinions of the company and do not represent us in any form. All Non-Editorial articles are intended to be purely informational and should not be treated as fact.

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