An end to ultra-low rates mean borrowers can only afford smaller mortgagesBank taking ‘wait and see’ stance to more rate risesUK house prices fall at fastest annual rate since 2012Since 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, big 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. Continue reading…
Source : theguardian.com
Read more…How rising interest rates have sent the UK housing market into reverse
