UK Asking Prices Rise Despite Higher Mortgage Rates
British asking prices rose one percent in October, but higher mortgage rates and budget uncertainty began weighing on housing market affordability. Sales agreed dropped eight percent annually as buyers faced increased borrowing costs.
Xurve View
Insights:
Xurve View
British asking prices rose 1% during the month leading to October 10, failing to match the historical 1.3% average for the period. The muted increase signals mounting affordability pressures across the United Kingdom housing market. Higher mortgage costs driven by the conflict in Iran are beginning to weigh on buyer demand.
