UK house prices have stalled, with declining mortgage rates providing only marginal relief to a market weighed down by persistent inventory gluts.
The latest data indicates that the easing of borrowing costs has not yet translated into renewed buyer demand or price appreciation, leaving the sector in a state of limbo.
The stagnation underscores a disconnect between monetary policy transmission and real estate fundamentals.
While lenders have reduced rates, the supply-demand imbalance remains acute.
According to property portal Zoopla, three in five homes listed for sale since January remain on the market, highlighting the depth of the oversupply issue.
This inventory overhang continues to suppress seller leverage and dampens price growth potential.