Halifax revealed that house prices dropped for the second month in a row, down 0.1% in April following a 0.5% fall in March.
After a strong start to the year, recent global developments have added a greater degree of uncertainty to the outlook. In particular, higher energy prices have fed into inflation expectations prompting markets to reassess the interest rates which has already pushed up borrowing costs. This has lead to more caution among some households, with the cost of living at the forefront of people's minds which in turn means extra thought is being given to planned moves.
The Bank of England's monetary policy committee has issued its latest base rate decision. As expected, the rate has bee held at 3.75%.
Prior to the outbreak of the Iran War, it was expected there would be rate cuts beginning this month.
The Bank of England has voted unanimously to keep the base interest rate at 3.75% after earlier predictions there might be a cut
A Bank of England rate-setter believes there could be three rate cuts this year, as easing inflation and a softer labour market have shifted the outlook for interest rates.
Rightmove found that an average 68.9% of homes listed for sale in February went on to successfully find a buyer.
January, when activity starts to ramp back up after the Christmas period, and March, which Rightmove noted to be the popular month in spring to sell, came in joint second place. An average 68.8% of homes which were listed for sale in those two months went onto find a buyer.
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