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UK Estate Agents - Sales slow down due to Interest Rates.

Office Admin
08/03/2023
Real Estate
5096

New Mortgages are becoming harder to get, Banks and Building Societies are withdrawing products and offers.

Annual house price growth slowed in all countries and regions in February, Halifax said. The north-east posted the biggest slowdown, to an annual rate of 1.1% from 3.6%, with homes costing an average £163,953.

Average house prices in London are £526,842, down by 0.9% over the last year. The capital may be affected by its large proportion of flats, prices for which have broadly stagnated. Despite this slowdown, average prices are £240,000 more than the UK national level.