Market Analysis: High borrowing costs restrict demand, UK house prices may stabilize.

Daniel Austin, CEO and co-founder of ASK Partners, stated in a report that rising borrowing costs are likely to dampen demand and may lead to a stabilization of house prices in the UK. The latest Nationwide house price index data shows that house prices in May rose by 3.5% compared to a year ago. He said, "While house prices have risen, we believe that growth may come under pressure and remain stable as rising borrowing costs begin to impact homebuyers, although the market remains resilient."