Economics

U.K. Housing Market Outlook Dims With Jump in Borrowing Costs

Fixed-rate mortgages provide a short-term cushion for buyers
End of the era of cheap money will stretch affordability

The cost of living squeeze is already being felt by the 2 million households on adjustable rates.Photographer: Darren Staples/Bloomberg

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By Andrew Atkinson

May 7, 2022 at 6:30 AM UTC

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The U.K. housing market is braced for headwinds as rising borrowing costs add to the cost-of-living crisis stretching affordability for property buyers.