It would appear that the recent increases in the interest rate has started to affect the housing market with housing experts claiming that mortgage approvals are falling.
House purchases have also been reported to have fallen and have not shown any growth in the last twelve months. With another interest rate predicted by other pundits, the signs are that the housing market growth will slow to 10 per cent towards the end of the year.
Our view
We de not believe that there will be another rate rise in the next few months. We actually believe they have reached their peak, but if the market warms up again, expect another rise towards autumn.