Episode Details

UK house prices experienced a slight decline in March, dropping 0.5% to an average of £299,677, marking the first time prices fell below £300,000 since October. Annual growth also slowed to 0.8% from 1.2%. The dip can be attributed to economic uncertainties caused by the Middle East conflict, leading to increased mortgage rates and reduced market offerings. Buyers, particularly first-timers, are facing higher borrowing costs, while those on fixed deals are currently insulated. The Bank of England maintained rates but hinted at future increases if inflation surpasses 3%. Regionally, Northern Ireland saw the highest annual growth of 8.7%, while Englands south and London experienced price drops.

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