UK house prices stall as mortgage rate rise fuels caution

House prices stalled last month after more than two years of growth as a sharp rise in mortgage rates fuelled caution among buyers, according to Britain’s official surveyors body.

The Royal Institution of Chartered Surveyors (Rics) also predicted that rents will be 4% higher in a year’s time due to an imbalance between strong tenant demand and the supply of homes to let.

Across the UK, 2% more property professionals reported house prices…