Boozenews
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The Impact of Higher Mortgage Rates on House Prices
The higher mortgage rates go up, the less buying power people have. So we're going to have 20% less moves this year than last year. But we're also then seeing house prices fall about four or five percent year on year. I think there's a big regional divide as well. Higher mortgage rates hit much harder in the south of England where house prices are higher and you need a much bigger income to be able to buy in a bigger deposit. And so there's less pressure for prices to fall.
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