Pent-up lockdown demand and stamp duty holidays kept prices high, but rising mortgage rates and living costs may tip balanceIt’s two years since concern last swirled around the health of the housing market. Then, estate agents were tentatively setting up socially distanced viewings after the market was allowed to reopen part-way through the first Covd lockdown. At the time, the property firm Savills reviewed its forecast and decided it still expected “house prices will fall by around -5% to -10% in the short term”.It didn’t happen. The pent-up demand that had grown through lockdown was quickly stoked by stamp duty holidays across the UK. Far from falling, house prices started rising – and haven’t stopped since. Continue reading…
Source : theguardian.com
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