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UK Housing Market Stabilizes Amidst Mortgage Rate Dip
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UK housing market stabilizes as falling mortgage rates stimulate buyer demand, leading to improved sales volumes. The Bank of England's benchmark Bank Rate remains high, but economists anticipate a restrictive lending climate. The house price balance rose to -30 in December, with a flat trend predicted for the coming 12 months. The lettings market also experienced demand growth, despite projected rent rises.
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How do falling mortgage rates and a flat house price trend affect consumer confidence and investment decisions in the housing market?
How might the restrictive lending climate impact the overall economic growth in the UK?
What strategies could the government employ to address the lack of available properties in the lettings market?
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