Housing and mortgage market sentiment has improved a little over recent weeks. Over the short-term, activity may be boosted by first-time buyers seeking to complete deals before the stamp duty concession ends on 24 March.
For the time being at least, funding conditions have eased as a result of European Central Bank operations, so lessening the need for UK banks to tighten mortgage pricing and terms.
As inflationary pressures continue to fall back, the squeeze on household finances should ease progressively and help support stronger economic recovery going into the second half.
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