Turmoil on the UK’s financial markets has prompted analysts to predict that house prices could fall by as much as 20% amid “carnage” in the mortgage sector and warnings of a big jump in borrowing costs on the way.
Despite the worsening cost of living squeeze, the property market has been defying the doomsters for months. That could finally be about to change, following the chaos unleashed by Kwasi Kwarteng’s mini-budget.
