PODCAST: https://anchor.fm/fife-properties/episodes/UK-House-Price-Index-July-2022-e1n5jtp

• Demand weakening over summer, more so than last year

• New sales volumes holding up, supporting headline price growth

• Cost of living hitting lower income households hardest, while

those that buy homes tend to be on higher incomes

• Higher mortgage rates to have a greater impact on activity in H2

• Mortgage rates for new buyers on track for 4%. The average first-time

buyer will need an extra £12,250 in income to buy a home compared to

a year ago, and up to £35,000 more in London.

• Higher mortgage rates will impact activity and prices in higher priced,

unaffordable markets and less so in lower value markets.