FORTEM PROPERTY MARKET REVIEW Q3: 2023
High mortgage costs have been the principal reason why the property
market has slowed over recent months, both in terms of sales activity and
price growth. Affordability has also been limited by higher taxes and, more
generally, by the rising cost of living. However this quarter has seen three
consecutive falls in the rate of inflation and steadily improving rates on
fixed rate mortgage deals. All the signs are therefore pointing in the right
direction, so a gradual return to capital growth looks like a near certainty.