UK housing market shows strains from 'mini-budget': Rightmove

  • 📰 Reuters
  • ⏱ Reading Time:
  • 65 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 97%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

Britain's housing market lost momentum this month after Prime Minister Liz Truss's economic plans upset financial markets and triggered a repricing of the mortgage market, data from property website Rightmove showed on Monday.

Asking prices for homes coming to the market rose by 7.8% year-on-year in October, the smallest increase since January.

Britain's housing market had already been showing signs of cooling after a more than 20% surge in prices since the start of the pandemic as the cost of living rose and the Bank of England steadily increased interest rates.But last month Truss's government announced a plan to boost economic growth through unfunded tax cuts that alarmed financial markets.

The turmoil meant some institutions temporarily stopped selling mortgages to new customers, while others ramped up repayment rates for new loans."Buyer demand was already starting to soften and higher interest rates were anticipated, but they've been brought forward sharply due to market uncertainties," Tim Bannister, Rightmove director of property science, said.

Rightmove reported a rush of buyers trying to complete sales before mortgage offers fixed at prior lower repayment rates expired."It's understandable that some new movers who have the option to wait may want a clearer view than they're getting right now before they proceed with a major purchase such as a home," he said.

Rightmove's index of asking prices, which is not seasonally adjusted, typically falls in November and December.Reporting by Andy Bruce Editing by William Schomberg

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 2. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Britain's Prime Minister Liz Truss fires finance chief after less than 6 weeks on job
Herkunft: WOKVNews - 🏆 247. / 63 Weiterlesen »