The easing in house price growth in both February and March suggests momentum in the housing market is waning. What’s more, as we now think the Bank of England will press pause on the interest rate cutting cycle later this year, mortgage rates may fall a bit slower than we previously thought. That may mean house prices don’t rise by as much as our forecasts of 3.5% in the year to Q4 2025 and 4.5% in the year to Q4 2026.
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