Is the UK housing market at a turning point?

UK

2022/08/17

The UK market is in a frenzy, with would-be buyers being outbid and properties going for way over the asking price in some cases. Nominal house prices ↑ 63% since 2013 in the UK. However, buying has been cheaper than renting if one can afford the deposit and the BOE stress test. 80% of UK mortgage borrowers are on a fixed rate and have locked in a monthly repayment for a set duration, often 2-5-yr. Avg UK house prices ↓ 0.1% MoM in July.