House Prices and Interest Rates

02/11/2023

House prices rose 0.9% in October, which was the biggest monthly rise for more than a year. It was the first time that house prices have increased since April and was the largest increase since March 2022.

This was a pleasant surprise, given that Analysts had expected prices to fall by 0.4%. The unexpected rise has been attributed by many to the lack of housing availability in the market.

Nicky Stevenson, managing director at estate agent group Fine & Country, said the recovery in house prices in October was boosted by a pause in interest rates in September.

In other good news, the Bank of England Monetary Policy Committee confirmed that interest rates will stay at 5.25%.

Mortgage brokers are anticipating an improvement in the fixed-deal mortgage rates. HSBC and Barclays have already reduced their fixed rates this week, and there could be further cuts from other lenders to come.

For more information, see https://www.bbc.co.uk/news/business-67282657

Share this article…

  • Linkedin
  • Google+

  

We want people to have access to a local Hine solicitor, and we choose each office with care so that we can make a genuine contribution to the local community. Growing customer numbers mean that we are opening offices in new UK locations to meet increased demand.


Find your nearest Hine Solicitors office here … Read more...



 

Wills and probate

  ” I was very impressed with the information and advice I was give, so Thank you” “You really have been brilliant. I…

Motoring

“My solicitor was excellent and achieved an outcome that totally exceeded our expectations. His attention to detail, advice offered and finally his presentation…

 

How can we help? Request a callback...

    [honeypot website]

    Please refer to our Privacy Policy for details of how and why we process your data.

    You can also view our GDPR Recruitment Policy here.