Britain’s biggest property developers are bracing for a “critical” autumn selling season as mortgage rates rise.
This week, Barratt Developments and Berkeley will give a sense of the state of the market as they head into what should be their second most important period of the year. Expectations are low after mortgage rates rose further in the summer, as the cost of living crunch still hurts and as would-be buyers fear that further falls in house prices are around the corner.
“Since June the market has stalled,” Aynsley Lammin, an industry analyst at Investec, said. “Some of that will be the seasonal summer slowdown, but there’s definitely more to it.”
He will be looking at Barratt and Berkeley to try to establish how much of
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