UK housing market cooled after tax break ended

Following the expiration of a stamp duty holiday, UK housing market activity slowed in March. Surveyor feedback indicates prices are leveling out after prior increases. Demand from new buyers fell, and sales declined. In the rental market, tenant demand increased for the first time since October, but new landlord instructions continued to fall. Professionals anticipate further rental price increases over the next three months. The Royal Institution of Chartered Surveyors noted that US tariffs could create uncertainty. Some lenders announced mortgage rate cuts. The average two-year fixed home-owner mortgage rate decreased slightly.