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Evening Standard
Evening Standard
Business
India Block

“Gloomy outlook” of London housing market to last until 2024 due to mortgage affordability and cost of living

Mortgage affordability is continuing to affect the property market, with nearly all parts of the UK seeing house prices retreat, according to surveyors.

The Royal Institution of Chartered Surveyors (RICS) said its report for September shows the continuation of a challenging market backdrop, with interest rates continuing to hamper mortgage affordability, and the disparity between tightening lettings supply and rising demand causing rental price rises.

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