As the rate outlook improves and mortgage rates stabilise and continue to improve, that could see buyer confidence begin to improve into next year.
October saw a 0.9% rise in UK house prices, after taking account of seasonal effects.
It is hard to get away from politics these days, in any part of the world. For the housing market, it could be rather important.
New research from eXp UK, the platform for personal estate agents, reveals that homeowners are largely unconcerned about cooling house prices, caring more about having a home to call their own than sitting on a profitable investment.
UK house prices fell further in September, edging down by -0.4% on a monthly basis.
Since the Bank of England base rate started making large jumps around the middle of last year, mortgage rates have increased significantly from the historic lows that borrowers had enjoyed since early 2015, when the average two-year fixed rate dropped below 2% and the average five-year fixed went sub-3%.
This was not anticipated by the markets, even in the minutes ticking up to the announcement, so this paved the way for mortgage rates to come down even further.
Landlords in England & Wales have seen their rental portfolio income increase by 8.7% in the past year.
The continued rise in rental prices comes at a time when there has been a record increase in mortgage interest rates.
