Reduced Mortgage Demand Archives - Fife Properties
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Tag: Reduced Mortgage Demand

FIFE PROPERTY MARKET UPDATE – 23rd – 29th JULY 2023 (Watch/Listen)

 

 

PODCAST:  https://podcasters.spotify.com/pod/show/fife-properties/episodes/FIFE-PROPERTY-MARKET-UPDATE–23rd–29th-JULY-2023-e27i09k

 

Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:

Article, Podcast and TV Shows written and produced this week are:

 

FPTV (EP 153) SELL NOW OR WAIT? What’s the right move for you?

Continue reading FIFE PROPERTY MARKET UPDATE – 23rd – 29th JULY 2023 (Watch/Listen)

Zoopla UK House Price Index – JULY 2023 (Watch/Listen)

 

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Zoopla-UK-House-Price-Index–JULY-2023-e27g2nv

 

Executive summary

 

  • Annual UK house price inflation slows to +0.6%

 

  • Modest annual price falls of up to -2.2% concentrated in southern England and markets with an average price over £300,000

 

  • Affordable markets in economically active areas still registering annual house price inflation of over 3.5%

 

  • Higher mortgage rates have reduced demand by 18% in last 2 months

 

  • Rise in mortgage rates appears close to peaking – likely to return to the 4-5% window this autumn. The key risk is higher rates for longer

 

  • Resumption of modest price falls expected in H2 2023, concentrated across southern England in response to higher mortgage rates.

 

  • UK prices still on track to be up to 5% lower over 2023

 

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