Homes harder to sell as high mortgage rates frustrate buyers

The UK housing market is experiencing a significant slowdown, with a new report from property portal Zoopla revealing that three out of every five homes listed for sale since January have yet to find a buyer. This stagnation is largely attributed to persistently high mortgage rates, which are frustrating potential buyers and dampening demand. The data suggests that sellers are facing increasing difficulty in closing deals, as elevated borrowing costs continue to strain household budgets and reduce purchasing power across the market.