Overview
- Savills reports total housing spend climbed to £226bn in 2025, driven chiefly by higher mortgage interest, with the average mortgaged owner paying about £13,000 a year.
- The FCA says roughly one million borrowers will exit ultra‑cheap five‑year Covid‑era fixes in 2026, leaving them exposed to today’s higher rates.
- Rightmove’s March index shows new‑seller asking prices up £3,023 to £371,042, with agreed sales 2% below last year’s strong level but 5% above 2024.
- Choice for buyers is the widest in 11 years, keeping growth modest and revealing sharp regional splits, from a 2.6% annual rise in the North West to a 2.1% fall in London.
- Lenders have withdrawn deals and lifted fixed rates in recent days, with at least 530 mortgages pulled since 9 March and some average two‑year rates topping 5%, even as buyer demand holds steady.