British home prices to flatline this year, rise 3% in 2025 [Reuters]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Reuters
After a slowdown, Britain's property sector has picked up in recent months as mortgage interest rates have fallen although some lenders, including Santander and HSBC, have recently announced price increases. Still, the Bank of England is expected to start cutting borrowing costs from a 16-year peak of 5.25% in the third quarter, probably in August, a separate Reuters poll showed. Those interest rate cuts meant all 19 respondents to an extra question said purchasing affordability would improve over the coming year. "With little change in house/flat prices, lower mortgage rates during the year and higher incomes will combine to improve affordability," said Ray Boulger at mortgage adviser John Charcol. Average home prices are expected to hold steady this year before rising 3.0% in 2025 and 4.0% in 2026, medians in the Feb. 16-28 poll of 26 property market experts showed. Overall inflation is expected to average 2.5%, 2.1% and 2.0% in the three years, respectively. "We expect
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