Rightmove expects cost of living crisis to have impact on market in second half of year
House prices in Great Britain hit a record high in June but are likely to start falling during the next few months as five interest rate rises and a worsening cost of living crisis finally start to put the brakes on the property market’s record-breaking run, according to Rightmove.
The property website said asking prices hit a record for a fifth consecutive month in June, rising by 0.3% – or £1,113 – to reach £368,614. However, this was the smallest monthly increase since January, with the site saying: “The exceptional pace of the market is easing a little.”
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