Average interest rates on new mortgages fell in December for the first time in more than two years.
Figures from the Bank of England show the effective interest rate on new mortgages fell to 5.28% in December, from 5.35% the month before, the first decline in borrowing costs since November 2021.
The value of outstanding mortgage debt fell from an all-time high of £1.455tn at the end of August to £1.452tn at the end of December.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
