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UK Residential Overview

7 October 2023

UK house prices are rising, but at the slowest rate for this time of year since 2008, according to new data that highlights the impact on the housing market of higher interest rates.

The average new asking price rose by 0.5% in the month to 7 October to £368,231, but it was the smallest post-summer bump since the 2008 crisis, according to property website Rightmove.
Average house prices dropped by 0.8% in the 12 months to early October as the lower activity fed through, Rightmove said, while the number of agreed house sales fell by 17% compared with a year earlier

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