Another interest rate hike could further dampen property market activity, research suggests.
It comes as new analysis shows the average number of monthly transactions across the UK have dipped by a quarter since interest rates first started to climb in December 2021 – rising to a reduction of 40% in the worst hit areas of the market.
Property information pack provider Moverly analysed property transaction levels since December 2021 and how the UK property market has performed compared with the same time period prior to the Bank of England’s first interest rate hike.