RICS: Resilience of housing market will be tested if mortgage rates rise

The housing market ended last year on a positive note with an increase in house sales, new buyer enquiries, and house prices in every region of the UK. The RICS survey showed a rise in house sales and new buyer enquiries, while Nationwide reported a 4.7% increase in house prices in 2020. However, rising mortgage rates pose a challenge for the housing market, with some lenders already increasing rates. The upcoming stamp duty deadline on 1 April is expected to boost activity in the housing market in the coming months.

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