#uk-housing-market

#uk-housing-market

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The UK's housing market is showing signs of slowing down amid speculation that Rachel Reeves could announce tax increases on property in next month's budget. In a sign of growing caution among house hunters, figures from Rightmove showed that both the number of new buyers contacting estate agents about homes for sale, and the number of new sellers coming to market, slumped by 5% in September compared with the same month a year earlier.

34% of UK homes are seeing a reduction in price, the highest for this period since 2012, indicating a two-speed property market.

"Interest rates have fallen as expected, giving buyers more financial capacity, but a lot has changed in the past six months. The prospect of future tax rises, particularly in the autumn budget, is likely to weigh heavily-especially at the top end of the market."