Pantheon Macroeconomics

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2nd Aug 2022 15:01U.K., Daily Monitor

House purchase demand is falling quickly in response to the jump in mortgage rates and drop in real incomes.

New mortgage rates look set to rise further in Q3, greatly weighing on approvals.

A contraction in supply, however, will prevent a slump in prices; we still forecast a modest 2% decline in H2 2022.

April bank rate construction credit credit data December employment growth growth rate h2 house price house prices house purchase households housing index July June ltv March markets May money and credit data mortgage mortgage rates mpc q2 q3 remain residential market survey rics savings survey surveys tax transport

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Keywords for: 3 Aug 2022 UK Monitor

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