The interest rates have risen six months in a row and therefore the property transaction prices are rising. There was a 4.4% month-on-month rise from July, and was 9.7% higher than levels seen a year earlier in August last year. The number also represents an elevated position when compared to pre-pandemic levels – transactions in August 2022 were up 2.5% compared to the 111,600 seen in the same month in 2019. According to reports, the prime minister and chancellor Kwasi Kwarteng will announce the measure to stimulate economic growth on Friday as part of the mini-Budget.
Will the drastic change in disposable income will change the investment rates?