House prices pick up but property outlook remains ‘clouded’
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House prices in the UK rose by 2.2% year-on-year in March, recovering from a slow start to the year, despite concerns over the Iran war impacting market confidence. While London saw a 1.7% increase, regions like the Outer South East and East Anglia experienced declines. Experts warn that rising global energy prices and increased interest rates could dampen housing affordability and market activity. The number of mortgage deals has decreased significantly since the conflict began, and the full impact of the war on the property market is yet to be realized.
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