Britain’s Property Market is Heating Up as Borrowing Costs Ease
- Two surveys show an increase in both buyers and sellers
- Drop in mortgage rates has boosted confidence among buyers
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Britain’s residential property market is picking up steam, with a jump in both the number of people looking to buy a home and record numbers considering a sale.
The findings in two separate surveys indicate an improvement in confidence about the outlook for prices after mortgage rates eased from a 15-year-high last year. It suggests that the market has firmed up since a slump in mid-2023 and that steady prices or even moderate gains are possible this year.