{
  "id": 19606564,
  "title": "House sales outlook hits three-year low as mortgage rates soar",
  "url": "https://urgent.news/2026/11/12/house-sales-outlook-hits-three-year-low-as-mortgage-rates-soar",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-12T05:30:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/house-sales-outlook-hits-three-year-low-as-mortgage-rates-soar/"
  },
  "original_language": "en",
  "account": "The outlook for UK house sales has hit a three-year low, according to the Royal Institution of Chartered Surveyors (RICS). Increased mortgage rates are driving down buyer demand and contributing to the property market cooling off. The latest findings from the UK Residential Market Survey indicate that sales activity and prices are expected to soften over the next twelve months. New buyer enquiries have remained steady since September, with demand from potential purchasers being weak across most regions in the UK.\n\nRICS's Head of market research and analysis, Tarrant Parsons, stated that demand for buying houses remains subdued, and respondents are preparing for a weaker year ahead for sales due to ongoing macroeconomic challenges. The Bank of England recently raised interest rates for the first time since mid-2023, signaling a potential further increase if energy costs continue to affect prices. With inflation expected to reach around five percent next year, mortgage rates are likely to stay elevated, further impacting the market.\n\nTom Bill, head of UK residential research at Knight Frank, noted that the recent decline in buying confidence highlights how decisions in Washington, rather than Westminster, are shaping the UK housing market's outlook. Rising mortgage rates have had a downward pressure on sales volumes and prices this year, primarily due to the energy price shock caused by the Middle East conflict. There is growing pressure on former President Donald Trump to find a diplomatic solution following the mid-term elections, which could lead to further reductions in borrowing costs if a lasting ceasefire is reached.",
  "summary": "Housing sales are forecast to have fallen to the lowest point in over three years as increased mortgage rates drive down buyer demand and the property market continues to cool. According to the Royal Institution of Chartered Surveyors’ (RICS) latest findings in its UK Residential Market Survey, the outlook for sales has slipped to the [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}