| All News | Archived News |
Interest rates have `negative impact` on housing market
28 August 2007
Rising interest rates have had a `significant` negative impact on regional housing markets, new figures show.
Homeowners may be interested to know that 71 per cent of estate agents polled for a survey thought five interest rate rises within a year have had a negative effect.
The survey, by the National Association of Estate Agents (NAEA), also found that 61 per cent of agents had experienced a drop in house hunters since the latest rise in early July.
Earlier this month, the Bank of England held interest rates at 5.75 per cent and suggested rates would hold for some time.
NAEA president Stewart Lilly said: "There is a glimmer of hope that further interest rate rises are temporarily on hold following the latest round of reports. If this is indeed the case it will provide much needed comfort to house hunters who have been grappling with the effects of the past three rises this year."
Speak to an expert today
Call freephone: 0800 161 3516
©2008 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061
Registered in England and Wales
Part of the Think Money Group. Our initial advice on your best financial solution is free. Fees payable where continuing services are provided. Calls may be recorded for training and quality purposes.
Debt Management | Debt Solutions | Debt Consolidation | IVA | Trust Deed