Rightmove’s October survey found UK new-seller asking prices increased 1.0% month on month to £371,015, a £3,575 rise, but remained 0.1% below a year earlier. The survey covers 13 September to 10 October and is not seasonally adjusted. Reuters reported that the average two-year fixed mortgage rate had increased to 5.55% from 5.29% a month earlier. Asking prices are not completed transaction prices.
UK property asking prices reportedly rose 1% in October, reflecting a seasonal increase in seller expectations. However, elevated mortgage costs continue to strain affordability and limit buyer DemandHow much buyers want at a given price. Stronger demand can make buyers compete with higher offers.Read More. The housing MarketA place—physical or digital—where buyers and sellers meet and agree on a price. Lix’s simple rule: no buyers and sellers, no market.Read More remains sensitive to Interest rateThe price of borrowing money, set or influenced by central banks. Differences in expected interest rates are a major driver of currency demand.Read More expectations, household finances and borrowing conditions as buyers and sellers adjust to ongoing economic pressures.
