Mortgage affordability is continuing to affect the property market, with nearly all parts of the UK seeing house prices retreat, according to surveyors.
With mortgage affordability still incredibly stretched, it is unsurprising that buyer activity across the housing market remained subdued in September Near-term expectations point to a continuation of prices declining, although at a slower pace, it added.A net balance of 43% of professionals saw an increase in tenant demand in the rental market in September.
“Although the decision to pause monetary policy tightening a few weeks ago provided a glimmer of relief for the market, interest rates are likely now set to remain on hold for a prolonged period.
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