Interest rates jumping from 1.2% to 4.5% had zero cooling effect on house prices in my area. Probably quite a few people are still on existing fixed mortgages.
Prices have jumped, as a double whammy.
It’s all about supply: there is very very little and it’s a desirable area.
Even if rates stay at around 4-5% in a few years when all of the low-rate fixed mortgages have ended, prices will have risen, and I would guess all that would happen is a slight abatement of rises, not a reduction.
Prices have jumped, as a double whammy.
It’s all about supply: there is very very little and it’s a desirable area.
Even if rates stay at around 4-5% in a few years when all of the low-rate fixed mortgages have ended, prices will have risen, and I would guess all that would happen is a slight abatement of rises, not a reduction.