House costs snap six month dropping streak as mortgage ache eases | EUROtoday

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Asking costs on houses up on the market have elevated for the primary time since July as decrease mortgage charges increase confidence out there.

The common value of a brand new property listed on Rightmove up to now this month was 0.1pc larger than a 12 months in the past, the property portal mentioned, marking the primary annual improve since final summer season.

Average costs are 0.9pc above the place they have been in December. With the everyday new itemizing priced at £362,839, it means the common asking value has elevated by greater than £3,000 since Christmas.

Optimism is growing as mortgage charges retreat from the highs seen final 12 months and amid hopes that rates of interest could quickly begin falling.

The common two-year mounted price mortgage on supply now comes with an rate of interest of 5.56pc, in line with Moneyfacts, down from 6.85pc in August.

Similarly, a typical five-year deal now prices homebuyers 5.18pc, down from 6.37pc final summer season.

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https://www.telegraph.co.uk/business/2024/02/19/ftse-100-markets-latest-news-house-prices-mortgage-rates/