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UK house price boom ‘to end in 2022 amid cost of living squeeze’
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The boom in UK house prices is likely to end next year as household finances become increasingly stretched, according to Halifax.
The mortgage lender said it expected the red-hot increases in average house prices over the last two years – 8% so far this year and 6% in 2020 – to end, with growth forecast to be “broadly flat” in 2022.
The Bank of England raised interest rates on Thursday for the first time since the start of the coronavirus pandemic, from o.1% to 0.25%, and signalled further increases in the months ahead, potentially dampening appetite for spending as budgets come under strain.
“With the prospect that interest rates may rise further in 2022 to subdue rising inflation, and with government support measures phaser out, greater
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