- Average property asking prices in Britain increased by 1.0 per cent month-on-month in October to reach £371,015, remaining virtually flat compared to last year.
- London recorded a 2.5 per cent monthly rise in asking prices to £673,942 following a quiet summer, though values remain 1.7 per cent down year-on-year.
- Buyer enquiries to estate agents dropped by 9 per cent compared to 12 months ago, while property choice reached its highest autumn level since 2014.
- Experts warned that rapid increases in mortgage rates are squeezing affordability, making realistic initial pricing critical for property sellers.
- A separate Barclays survey revealed 24 per cent of UK homeowners are open to downsizing, but upfront costs such as stamp duty remain major obstacles.
IN FULL
UK house prices jump by thousands in October as market faces mortgage squeeze
