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UK Housing Market Chart Pack (May 2024)

The tick up in mortgage rates since the start of the year has caused demand to soften. As a result, house prices are likely to tread water over the coming months. But our forecast that Bank Rate will be eventually be cut further than expected suggests that a renewed decline in mortgage rates lies ahead. Therefore, after a 2% increase in house prices in 2024, we think they will rise by 5% in 2025.

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