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UK housing market ‘resilient’ as prices rise 1.1% in February; Greggs warns of rising costs – business live

House prices rose unexpectedly last month, but cautions that “the underlying activity continues to indicate a general downward trend”

Greggs has reported that its move to open some bakeries later into the evening is paying off.

Greggs extended the opening hours of 500 shops until 8pm or beyond last year, as it competed for “food-on-the-go” sales in the evening.

We also introduced warm versions of some of our core products, with Hot Yum Yums and salted caramel dipping sauce going viral on TikTok!

Whether our customers follow a vegan diet or not, we know many more people are choosing to eat less meat for ethical, environmental or health reasons, and we are meeting that need.

Mortgage rates have come down in the last few months but are still much higher than a year ago. Meanwhile, households’ ability to take on and service debt is being squeezed by falling real incomes, and widespread predictions of a decline in property values will likely encourage some potential buyers to delay purchasing, weighing on demand.

On the other hand, changes in the structure of the housing and mortgage markets, and a resilient labour market, will likely reduce the risk of forced selling. An improving economic outlook as this year progresses may also limit how far house prices fall.

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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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