Some sources claim that UK property sales are ‘down an average of 25% since the increases in interest rates and that further increases could reduce demand.
However it is also claimed that approvals for mortgages rose in February and that demand for property may be back on the rise.
Bank of England figures showed that home loan approvals rose from 39,647 in January to 43,536 in February – reversing a downward trend in place since August 2022.
The question is – will levels return to those seen during the pandemic?