What on earth is going on with the housing market?

The UK's housing market remains in a state of flux. Interest rates are at their highest level for 15 years, house prices are faltering, and the UK economy is still feeling the lingering aftermath of last year’s mini-budget. On a more positive note, following a period of swap rate turbulence, mortgage rates are slowly but steadily coming down, inflation is falling and we continue to see a very different regional picture, especially in and around the London housing market. This all leads to ongoing uncertainty. So, to help lift the lid on the UK housing melting pot, the latest instalment of Barclays award-winning Mortgage Insider Podcast sees Tom Bill, head of UK residential research at Knight Frank join host and property expert Phil Spencer to evaluate some of the most prominent influencing factors. The episode focusses on topics such as ongoing affordability issues, transaction volumes, the performance of the buy-to-let sector, new build and the impact of a changing political landscape.  The discussion also tackles the complex world of mortgage swap rates to determine why they are so important to the housing market, how brokers can better support their clients over the coming weeks and what they should be keeping an eye on going forward. Meaning there is plenty to digest and dissect. This episode was recorded on 24th October 2023.  It’s a Fresh Air Production for Barclays created by Julie-Anna Needham and Annie Day with Helen Carter from Barclays. See omnystudio.com/listener for privacy information.