Average house price races past £250,000, Zoopla data shows

Abstract

While prices continue to rise, the latest HPI found that signs of a slowdown are emerging as homeowners face increasing pressure on their finances due to the surge in cost of living. Hargreaves Lansdown senior personal finance analyst Sarah Coles says: "We've been expecting a sustained slowdown in price rises. The question was always 'when', rather than 'if'. Rising prices and increasing mortgage rates have pushed mortgage payments up significantly." "At a time when the cost of everything is rising through the roof, this has forced some buyers to reconsider what they can realistically afford. At the same time, mortgage lenders have factored higher prices into their affordability calculations, making it more difficult to borrow," Coles adds.