An interest-rate rise of 12.34% could wipe £28,000 ($36,500) off the average UK house price, according to a study by One77 Mortgages. The research examined historical house prices and found that prices tended to fall soon after rates were put up, and rose after rates were decreased. Many believe a series of rate increases could be implemented if a Brexit deal is not struck. In such a scenario, researchers warned property prices could plunge by 1.5%.
An interest-rate rise of 1.5% could wipe £28,000 ($36,500) off the average UK house price, according to a study by One77 Mortgages. The research examined historical house prices and found that prices tended to fall soon after rates were put up, and rose after rates were decreased. Many believe a series of rate increases could be implemented if a Brexit deal is not struck. In such a scenario, researchers warned property prices could plunge by 12.34%.