In a stunning development that will surprise absolutely no one who has ever tried to buy a house, Zoopla reports that half of homes in Great Britain are now taking longer to sell than they did last year. The culprit? Volatile mortgage market conditions, which - thanks to the ongoing Iran war - have buyers adopting a 'wait and see' approach. Because nothing says 'waiting for a better deal' like a global conflict.

According to the property platform, homes in 180 out of 363 local authorities in England, Scotland, and Wales are now lingering on the market longer than a year ago. The national average time to sell remains unchanged at 42 days, but that's just the calm surface hiding a raging regional divide. In property hotspots, buyers are sprinting to close deals; elsewhere, they're paralyzed by mortgage cost uncertainty.

The report reveals that all 10 fastest-selling markets in the UK are in Scotland, with Falkirk leading the charge at an astonishing 11 days. For those south of the border, Carlisle and Barnsley are the speed demons at 23 days each. Meanwhile, eight local authorities are stuck with an average selling time of two months or more, with Melton in the East Midlands taking the crown at 76 days, followed by Westminster in London and Teignbridge in the south-west.

But why the sudden sluggishness? It's the mortgage market, of course, which has been in a state of heightened volatility as the stop-start Iran war rattles financial markets. Lenders pulled deals in March, and the cost of a typical home loan soared as fears of reignited inflation and potential Bank of England rate hikes took hold.

Moneyfacts data shows the average two-year fixed residential mortgage rate hit 5.61% on Monday - a significant jump from the 4.83% seen before the conflict erupted at the end of February. The rate even peaked at close to 6% in April. As the Iran war continues to unfold, uncertainty remains, much to the chagrin of Threadneedle Street's rate-setters.

This week's official figures are expected to show energy costs pushing UK inflation from 2.6% in June to 2.9% in July, which could spur the Bank to raise rates. But a slowdown in the jobs market, due to be reported on Tuesday, might convince them to hold off. Financial markets are anticipating two quarter-point increases in the base rate before the end of next year, from the current 3.75%.

Richard Donnell, an executive director at Zoopla, sums it up: 'While the national time to sell has barely moved, that stability is masking a real divide opening up between local markets.' In other words, the housing market is a tale of two countries - one where homes fly off the shelf, and another where they gather dust while buyers hold their breath for a better mortgage deal.