UK house prices and sales continue to fall as interest rates climb…
The property market is slowing down significantly as a result of higher interest rates and increased mortgage expenses.
The slowing down of the property market has led to a decline in both sales and house prices in the month of January.
According to the Royal Institution of Chartered Surveyors (Rics), the trend of declining agreed sales, house prices, and new instructions to sell homes persisted in January.
The survey revealed that a net balance of 47% of surveyors reported a decrease in new buyer inquiries, which was a worsening situation compared to the previous month when 40% of surveyors reported the same.
January marked the ninth consecutive month of declining new buyer inquiries.
Simon Rubinsohn, the chief economist at Rics, said: “Although some respondents to the January Rics survey have noted a little more interest in the housing market as the new year got underway, the overall tone of the feedback still remains subdued, which is not altogether surprising given the jump in mortgage rates since the autumn.
“Prices, meanwhile, are now beginning to reflect the shift in the balance between demand and supply.”
If you need to seek financial help for your business, email [email protected], call 0115 958 6872 or fill in an enquiry form below.
Have Any Questions?
Qualified Team Available
Related Articles
Installation of solar panels globally increased by more than 30% in comparison to 2023.
Recent reports show that asset finance business rose in 2025.
The Growth Guarantee Scheme (GGS) has been granted an increase in capacity for businesses across the UK.
The Spring Statement 2025 has been delivered. Here are the key points.
The net zero economy sees growth of 10% over the past year
A scheme supporting electric vehicles has been given a one-year extension.