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You may have seen October’s headline that property prices had fallen for the first time in 15 months. Should this come as a shock? No, as the frequency and rate at which house prices rose during late 2020 and 2021 was unsustainable
It may read like ‘the good, the bad and the ugly’ but there’s plenty of positive property news this month. If approached with calm caution, highlights can be extracted. You just need to know where to look.
What does it take to stop the UK’s apparently unassailable property market? Another interest rate rise? An energy crisis? Rising food bills? For now, apparently none of these factors is denting the determination to move home.
From ‘boil to simmer’ is how house price growth has been described by one property portal, who published its latest House Price Index in July. Rightmove’s newest report chose to focus on the rate at which house prices are now rising, rather than by how much.
Here we discuss house prices, rental values and major changes to lettings. There’s also a new UK average house price and a new Bank of England base rate. If you want to know how any of the points affect your property plans, please get in touch.
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