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Nov 2 2022, 07:00 GMT
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October UK housing snapshot… should I stay or should I go?
- Companies : OnTheMarket plc | Rightmove plc | Purplebricks Group plc
DAVY VIEW
Did we pass through the trough of despair, did uncertainty peak in October? It is not yet clear – mortgage approvals declined 10% year-on-year but both transactions and prices held steady. Mortgage rates will continue to rise and affordability will continue to be squeezed. However, the resilience in the market is already somewhat surprising, will it persist? Lloyds Bank called house prices down 8% next year. It supplies one in three mortgages in the UK but is traditionally cautious in its view… -8%, arguably, hardly a crash.
