Positive Trends in UK House Prices and Buyer Demand

The UK housing market has recently witnessed some encouraging developments. Rightmove, a prominent property website, has reported that the average price of houses entering the market in May has reached a new all-time high of £372,894.

This increase in price can be attributed to a rise in buyer demand. Furthermore, Rightmove believes that the stability of long-term borrowing rates over the past six months has played a significant role in fuelling this demand. We see this as a positive for the £ but the effect of higher interest rates and the cost of servicing housing debt may not yet be reflected in this survey.

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