Chill wind blowing through the market

Headlines Rightmove: “Buyer numbers hold steady as speculative sellers stay away.” Home.co.uk: “Reluctant vendors cut supply and boost home prices.” NAEA Propertymark: “FTB sales hit seven-month high ahead of Brexit deal” RICS: “Uncertainty causing buyers and vendors to hesitate” Nationwide: “Little change in UK house price growth in October.” Halifax: “Annual house price growth slows to 0.9%” LSL Acadata HPI: “Wales and the North move ahead while the South and Midlands edge downwards.” LCPAca Residential Index: “Modest rally in prices and sales.” Hometrack: “UK city house price inflation is +2.4%, half the average growth rate over the last five years (4.8%).” It’s unlikely that this will change, especially if we hit a recession that’s driven by poor economic performance in the UK. Key facts Average prices across the indices vary from mortgaged-only prices from the Nationwide HPI of £215,368 through to marketing prices (ie not necessarily sold) from Rightmove of £306,712 and actual prices from LSL Acadata HPI of £299,047. Average sold prices from the UK HPI stand at £234,853. There is a 42% difference between the highest average price from LSL which include cash sales and the lowest from Nationwide which reflect mortgaged homes. UK, England and Wales data…

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