Six factors influencing the UK property market in 2018
It could be a better year in Britain’s dysfunctional housing market for first-time buyers and tenants
1. Interest rates will stay low
Another 0.25% hike is expected in late spring, taking the Bank of England base rate to 0.75%. That will add £22 to the typical £175,000 tracker mortgage, but with more than half of all borrowers on fixed rates, it will probably go unnoticed by most homeowners. With the economy weak, the market does not expect any further hikes across the year. Mortgages will remain cheap although, with inflation outpacing wage rises, will still very much feel like a burden.Continue reading...