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Hometrack UK House Price Index – September 2022

by | Oct 5, 2022 | Clients

The Hometrack UK House Price Index analyses housing market trends at a city level on a monthly basis – across 20 cities, plus regions, and nationally.

Executive summary:

  • The Housing market is transitioning to a buyers’ market as higher mortgage rates are set to cut buying power by up to 28%.
  • The jump in house prices over the pandemic is compounding the affordability challenge, especially in southern England.
  • Some regions have seen 10 years of house price growth compressed into two years.
  • New sales are holding up with no sudden drop in demand in recent weeks – but buyer interest is weaker than a year ago.
  • Asking price reductions are at the highest levels since before the pandemic as sellers adjust to more price-sensitive demand.
  • Stamp duty changes will support regional markets and first-time buyers in southern England at a low cost to the exchequer.

You can read the latest full report online on the Hometrack website.