UK property asking prices set to rise by 4% in 2025 [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
A panel of experts from the property site predicted that the average five-year fixed and two-year fixed mortgage rate are likely to be around 4% by the end of next year. This is lower than the current 4.83% and 5.08% for the five-year and two-year fixed rates respectively. The anticipated rate cuts, driven by multiple base rate reductions, are expected to improve affordability for homebuyers and boost consumer confidence. However, the future of mortgage rates remains uncertain, dependent on factors such as inflation and geopolitical tensions. Despite the expected improvements, mortgage rates are unlikely to return to the historically low levels seen prior to the cost of living crisis Matt Smith, Rightmove's mortgage expert, said: “It is likely to be a mixed year for the market. Those who took out peak-mortgage rate two-year fixes after the mini-budget will see their deal come to an end and will likely find themselves with lower costs next year. Combined with wage growth, they m
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