Interest rate rises drag on UK housing

property

The UK housing market will slow down, albeit gradually, as the impact of recent rate hikes finally h...

The UK housing market will slow down, albeit gradually, as the impact of recent rate hikes finally hits consumers, Axa Investment Managers believes. Paul Griffiths, chief investment officer at the group, said, at first glance, the response of the housing market to the Bank of England's four interest rate increases since November, has been muted. The latest Halifax survey in fact shows house prices surged again in May and the level of lending has continued to soar while consumer credit remains on an upward trend, he noted. He added: "However, a significant shift has emerged in the relat...