Rate hike fears weigh on UK housing market
British housing market sentiment weakened last month as rising interest rate expectations added fresh headwinds. The RICS house price balance fell more than expected while new property listings increased.
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Rising interest rate expectations weighed on the United Kingdom housing market last month, pushing the house price balance down to -32 from -28 in August. The decline exceeded economist expectations gathered in a Reuters poll, ending four months of relative stability. Higher borrowing costs have cooled buyer demand and slowed sales momentum across the country.
