UK House Price Index July 2022

<p><strong>UK House Price Index July 2022</strong></p> <p>• Demand weakening over summer, more so than last year</p> <p>• New sales volumes holding up, supporting headline price growth</p> <p>• Cost of living hitting lower income households hardest, while</p> <p>those that buy homes tend to be on higher incomes</p> <p>• Higher mortgage rates to have a greater impact on activity in H2</p> <p>• Mortgage rates for new buyers on track for 4%. The average first-time</p> <p>buyer will need an extra £12,250 in income to buy a home compared to</p> <p>a year ago, and up to £35,000 more in London.</p> <p>• Higher mortgage rates will impact activity and prices in higher priced,</p> <p>unaffordable markets and less so in lower value markets.</p> <p>#HousingBoom #HousingBust #HomeBuyers #FifeProperties</p>