DomusHolmesPropertyFinder

The final push. Sellers aim high subliminally bracing for a fall before winter hits. The capital doggedly refused to accept the current muse music and raised ASKING  prices by 2.5% in October in a desperate attempt to recoup earlier losses in the year. In the rest of the country; sellers overall asked for 1% more but some northern and Welsh sellers displayed greater awareness, accepting higher borrowing costs have limited buyer affordability and lowered asking prices.  As a whole, buyers remain cautious, many retreating, waiting to hear what the budget holds or till 2026 is in their rear view mirror and rates are hopefully improving off the back of a peace deal that holds in the East. This, @rightmove reported, saw demand fall 9% when stock “options” rose 3% on last years levels causing agreed sales to fall 8%. This could of been a lot worse if buyers had lost their preferential fixed rate or weren’t securing some properties at a fraction of their once listed price.

Under the glare of the August sun, house prices in the UK melted 0.2% on July's efforts making the average house price on @LloydsBank HPI, £298,468. Buyer caution prevailed leaving many a property to languish, exposed, on the portal shelves for longer. The stalemate between seller and buyer remains with buyers looking for a deal while sellers are reluctant to make a loss be it actual or perceived. The constant eye to the east and rising interest rates is keeping the market in check. Downward pressure however remains focused in the southern part of the country. House prices in the South East falling 1.6% annually and 1.5% in the Capital. Meanwhile, Northern Ireland continues to defy the odds with annual growth of +6.9% followed by Scotland with a +3.5% rise. In England, growth remained focused northward with 2.7% and 2% growth in the North East and West. Moving forward this pattern is expected to continue but will worsen if rates rise further. This will leave many sellers, not in need, to wait till the New Year while others will doggedly continue to list in search of a buyer creating opportunities for southern purchasers. Meanwhile, those looking to buy in the North, keen not to be out-priced, will move at speed to secure their dream home.