Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
Investing.com -- UK housing market showed resilience in September as asking prices increased by 0.4% (£1,517) to £370,257, according to Rightmove’s House Price Index.
This increase follows three consecutive months of declining asking prices, suggesting the potential for an autumn selling season despite market uncertainty.
The uptick aligns closely with the 20-year average September increase of 0.5%.
Despite the monthly gain, asking prices remain 0.1% (£502) lower compared to the same period last year, marking the first annual drop since December 2023. London and the South are leading this year-over-year decline.
The housing inventory has grown unevenly across regions, with the number of homes for sale 9% higher year-over-year in the South, compared to just 2% growth elsewhere in the UK.
Sales agreements have increased 4% compared to last year, with a 3% rise in the South and London, and a 5% increase in other regions.
While Rightmove’s data shows no immediate reaction from movers to property tax speculation, the company expects that growing concerns about potential tax changes may cause "jitters" that could slow parts of the market over the next three months.
This market uncertainty comes as the Housing Secretary aims to accelerate housebuilding, though policy suggestions from other government departments might potentially slow development progress.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.