British house prices under threat if interest rate cuts delayed

Elevated mortgage rates could keep owning a house out of reach for many

Even if prices stay unchanged, households would still be spending a higher share of their incomes on mortgage payments than they did in the decade to 2007, Bloomberg Economics calculated. 

The British housing market recovery is threatened by investors scaling back bets on how far the Bank of England will cut interest rates, according to a new report.

The property market has turned a corner this year as cheaper borrowing costs lure prospective buyers.