RICS: Falling mortgage rates are providing respite for house prices

Property professionals appear less concerned about house price drops but values are still forecast to fall

house models next to coins
(Image credit: Getty Images)

Falling mortgage rates appear to be making property professionals more confident about the prospects for the housing market this year, the Royal Institution of Chartered Surveyors has claimed.

Average mortgage rates began falling from highs of 6% to 5% towards the end of 2023 and some deals have gone below 4% as inflation slowed.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.