"Earlier this month the Bank of England made a finely balanced decision to cut interest rates to 5%, the first reduction in four and a half years (since March 2020)."

"In the final weeks of 2023 it was clear to housing market analysts that mortgage affordability was continuing to place downwards pressure on house prices."

"A shifting economic landscape has made it increasingly difficult for potential buyers to decide if and when to take the plunge. "

"Higher mortgage rates will have different impacts in different parts of the market."