Interest rates are on the rise with further increases expected over the coming months as the Bank of England seeks to contain inflation – which is on course to pass 10 per cent this year.
That figure – the highest since 1982 – is rightly a cause for concern, but in the housing market, 10 per cent price inflation has been allowed to persist for long periods. The latest official figures released on Wednesday show that property prices in England jumped 9.9 per cent in the year to March, taking the average sold price to £297,524.
