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Credit Conditions Survey (Q1 2022)

Banks expect mortgage availability to fall back in Q2 as lenders push up borrowing rates to reflect increases in Bank Rate, but other lending criteria are expected to be stable or loosen.
Andrew Wishart Senior Property Economist
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More from UK Housing

UK Housing Market Data Response

Nationwide House Prices (Jun.)

Monthly house price inflation slowed in June to its lowest since last September according to the Nationwide, while the annual rate continued to edge lower. That is consistent with our view of steady deceleration through the year, followed by single-digit annual price falls in both 2023 and 2024. Real Estate Drop-In (6th July, 2022): Join our US Commercial Property team for this 20-minute briefing on why we think this is the market top – and how far we expect returns to fall. Register now.

30 June 2022

UK Housing Market Update

Cost inflation to ease alongside new home volumes

After reaching a record-high in June, we think that inflation in builders’ costs will soon start to ease. But even as cost pressures subside, construction volumes will slump as the housing market slows.

28 June 2022

UK Housing Market Update

Withdrawal of affordability test is a wise move

We suspect that the main reason for the hasty withdrawal of the Financial Policy Committee’s mortgage affordability test is that it was on course to become a severe constraint on many buyers’ financial firepower. If left in place, it could have led to a far larger house price fall than the 5% drop we forecast.

20 June 2022

More from Andrew Wishart

UK Housing Market Data Response

RICS Residential Market Survey (Mar.)

The latest RICS survey brought early signs that, having been a sellers’ market for the past two years, the balance is shifting. That suggests we are right to expect a moderation in house price growth in the second half of the year.

14 April 2022

UK Housing Market Data Response

Halifax House Prices (Mar.)

Another large jump in house prices in March kept Halifax’s measure of house price inflation comfortably in double figures. With competition between buyers still intense, house price inflation could remain high for several months yet, until rising mortgage rates cause demand and house price growth to soften come the summer.

7 April 2022

UK Housing Market Update

Valuations are most stretched in southern regions

Despite strong house price growth across the country over the past two years, including in regions that had lagged behind, valuations are most stretched in the usual places. As a result, house prices are still most vulnerable to rising interest rates in London and the South East.

4 April 2022
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