As the Autumn Budget looms, industry experts and advisers are watching the property market closely. Rightmove’s latest figures reveal key trends that could shape the months ahead. Here, Hamza Behzad, Business Development Director, Finova shares analysis into the latest Rightmove House Price Index data.
“Todays house prices are sending a clear signal that the UK housing market is still under pressure. While buyer confidence is starting to return, it’s doing so cautiously, and the drop in prices highlights the challenges households face in an uncertain economic environment. On the flip side, competitive mortgage rates are helping, giving much-needed support to both first-time buyers and those looking to remortgage.
Buyers are still acting cautiously, understandably waiting to see what Rachel Reeves’ Budget will bring next month. In the meantime, policy changes are already reshaping the market. The upcoming Renters’ Rights Bill is prompting some landlords to sell ahead of new regulations, giving buyers more choice. Stamp duty adjustments have also influenced affordability. Sales volumes have bounced back since the end of temporary stamp duty relief, but any tax rises in the budget could dent disposable incomes and put further pressure on the housing market next year.”
