Typical property values across the UK, have remained unchanged between August and September. The average property value was still £26,000 higher than a year earlier, according to official figures. Average house prices increased by 9.5% over the year to September 2022, slowing from 13.1% annual growth in August 2022. The fall in annual house price inflation is mainly because of the sharp rise in house prices in September 2021 at the end of the stamp duty holiday last year. The mini-budget towards the end of the month sparked unprecedented volatility in the mortgage market, something which will become more apparent in the months ahead.
What will be the upcoming trends for the months ahead?