Economist explains why the UK's housing market as we know it is over

#housingmarket #uknews #economy

Fears are growing that Britain’s housing market will crash. With the Bank of England’s base rate expected to hit 6 per cent by the end of this year, there is good reason to feel concerned. Mortgage costs are soaring and fewer people are able to buy homes at all.

What’s certain is that there will be a fall in house prices, but by how much? How will these rising interest rates and mortgage repayments change Britain's housing market for good?

i Housing Correspondent Vicky Spratt speaks to Senior Economist Rachelle Earwaker from the Joseph Rowntree Foundation to understand just how much rising housing costs are likely to have an impact.

Shot by: Sebastian Piette-Pereira
Music: Alex_Kizenkov from Pixabay

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