Housing market in 'disarray' since mini-Budget fiscal fiasco sees prices plunge further
also remains stretched, where mortgage rates remain well above the lows prevailing at this point last year.”
Scotland was the hardest hit by price weakness, with prices dropping 3.1 per cent in the first quarter compared with a year earlier. The West Midlands had the strongest performance, with a 1.4 per cent increase. last September, which sent mortgage rates [rising sharply] while many mortgage deals were pulled from the market.rates have been normalising, house prices have been hurt by rising interest rates from the Bank of England, sluggish economic growth, falling real wages and soft consumer confidence.
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