1/2/2024, 9:58:03 am

House prices in United Kingdom beat forecasts as mortgage rates edge down

British house prices rose 0.7% in January, exceeding economists' expectations and indicating a potential easing of high interest rates. The annual decline was also less than predicted, with prices only 0.2% lower than the previous year. The Bank of England is expected to keep rates steady, but may lower inflation forecasts which could lead to a rate cut later in the year.