ReporterEstate agents across the UK have seen a steep reduction in interest and offers from potential homebuyers in the past few weeks after interest rates soared after the Government’s mini-Budget.
“We’d list the property and within an hour the phone would just be off the hook. Now it’s totally the opposite. We’re sometimes scratching our heads thinking ‘we’ve just listed the property and the phone hasn’t rung yet, what’s going on?’” he said.they had seen a 50 per cent reduction in the number of people viewing properties since the budget as the “shock” of interest rate rises “spooked buyers”.
James Forrester, managing director at Barrows & Forrester estate agency, based in Birmingham, said general buyer enquiries were down 10 per cent.
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Bank of England deputy casts doubt on market interest rate expectations\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t Rolling back already HousePriceMania Inflation 12.3% Interest Rates 2.25% Are these people criminals ? The unelected bankofengland deputy and the fat liar in charge should be jailed for theft of peoples savings and for the low IR/QE economy destroying sub prime housing bubble ArrestTheBanksters Are they planning to completely devalue the £ and keep inflation above %%? Looks like BoE only cares about the housing market and nothing else..... But hey only 30% of the UK have mortgages and 40% are tenants, so why do we save the homeowners again?
Source: FT - 🏆 113. / 51 Read more »