(EXPRESS UK) – House prices in the U.K. are rising as the Bank of England raised interest rates to 1.25 percent, the highest point since the start of 2009.
The housing market is becoming less affordable, as prices increased by 9.8 percent in the year to March, according to the most recent Land Registry figures. However, experts believe demand remains high, therefore prices will not come down to balance the interest rate hike.
Buying agent Henry Pryor foresees demand for property in the U.K. continuing to significantly exceed supply, meaning UK house prices are extremely unlikely to fall.
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