
Some parts of the United Kingdom have seen property prices decline for the fifth month in a row.
image credit: rightmove
United Kingdom is facing a fall in housing prices in some parts of the regions consecutively for the fifth month in a row. It has been observed that falling housing prices can occur for various reasons it includes not only recession but inflation, cost of living and rising mortgage costs are playing a huge role for the continuing fall.
Homeowners may incur increased costs as a result of inflation, which is the rise in the average price level of goods and services in an economy. Homeowners may find it harder to make their mortgage payments when living expenses rise, which might result in more defaults and foreclosures. In addition, rising interest rates can make it more difficult for purchasers to get mortgages, which would decrease housing demand and cause a ...