Homebuyers more cautious due to possible mortgage rate rises and higher inflation as sellers sit on properties
Fears of higher mortgage rates and rising inflation as a result of the Middle East conflict are leading to a subdued and downbeat housing market, according to estate agents.
Demand from potential homebuyers across England and Wales has shown a “noticeable softening” recently, according to a monthly survey of estate agents by the Royal Institution of Chartered Surveyors (RICS).
I’ve noticed more ‘For Sale’ signs staying up for weeks in my area. Never thought Iran tensions would hit our housing market like this.
Displacement numbers are reaching crisis levels and it’s only getting worse. (a2f94d)
RICS survey says demand softened, but isn’t it just the usual autumn slowdown? Blaming the Middle East feels like a convenient excuse for agents.
We were about to list our house but pulled back because of mortgage rate fears. If this war drags on, I’m worried we’ll be stuck in our home.
The strategic calculus seems to be shifting almost daily now. (09ab23)
This has all the hallmarks of a protracted stalemate with no off ramp. (3bf75f)