Overview
- RICS said new buyer enquiries fell to a net balance of -24 in October, with agreed sales also weaker and the house price balance slipping to -19.
- The lettings reading dropped to its weakest level since 2020, pointing to broader strain across sales and rental markets.
- LonRes reported a 65% fall in October transactions for London homes above £5 million, underscoring sharper stress at the top end.
- Mortgage-lender data showed short-term price resilience, with Halifax and Nationwide recording modest monthly gains that contrast with survey expectations of near-term falls.
- Industry figures blamed policy uncertainty and broader economic pressures, urged stamp duty reform, and described buyers and sellers adopting a wait-and-see approach until the Budget.