The latest trends in the UK’s housing market:
House prices
The average price for a property in September was £291,385, down -0.1% year-on-year, and -0.5% on the previous month (ONS).
Economy
The Bank of England have once again held base rates at 5.25%, which will stay for at least another six weeks.
Transactions
The HMRC report that 85,610 sales took place in September, 0.6% down on the previous month and significantly down on last years levels (-17.0%).
Demand
Mortgage approvals in September dropped to 43,300, 5% lower than the previous month. This is below the long-term average but a 9% improvement on the start of the year.
Investment
At 6.1% in October, annual growth in rental prices in the UK is at its strongest since records began. The Index of Private Rented Housing Prices reports on both new lets and renewals.
