House Prices Cooling not Falling
Below is a MRR and PLR article in category Finance -> subcategory Other.
House Prices: Cooling, Not Falling
Recent data indicates that house prices in the UK are "cooling down" rather than "falling," as initially believed.
Reports from local government and communities highlight a notable difference in prices between London and the South East compared to the rest of the UK. Between August and September this year, there was a minor increase of 0.03%, with the average house price rising from £219,369 in August to £220,111 in September.
Annual house price inflation dropped slightly from 11.3% in August to 10.8% in September. First-time buyers face the steepest inflation, with a rate of 11.8% in September, raising the average cost for them to £167,503. Meanwhile, current homeowners pay an average of £245,920 for a property.
While prices aren't falling, the cooling trend offers a mixed outlook for buyers and homeowners alike.
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