Lettings

Demand for rental homes is rising as some would-be buyers pause to see what happens with mortgage rates in the new year, says Rightmove.

Knight Frank has flagged a clear increase in high-value properties hitting the rental market since the ill-fated 'mini Budget'.

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'We are on the cusp of seeing the sales market hand back purchasing power to buyers,' says Propertymak, 'which is a trend we haven’t seen in months as the market was very much in the seller’s favour.'

Foxtons is reporting an 'unusually busy' end to the year for the capital's rental market.

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A 28-month run of rising house prices has come to an end, reports the RICS, as buyer demand tails off and transactions stall.

House prices crashes have been rare in the UK, says JLL's research chief, Marcus Dixon - and average prices have never slumped by more than 20%.

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Annual rate is at its highest level since Savills records began in 1979.

'It’s a real challenge for renters at the moment,' says Rightmove, 'as there are simply not enough homes available to rent to meet the demand from people enquiring.'

"The extreme pressure may be coming off the market, but it has a long way to go yet before we see it return to normal," says Propertymark, as supply improves but demand remains high.