UK Housing Market Rebounds Despite Budget Concerns

Recent surveys indicate increased buyer activity and rising house prices, though budget-induced uncertainties loom.

The Royal Institution of Chartered Surveyors (RICS) reported a notable rise in UK house prices in October, marking the fastest growth in over two years.
Estate agents observed heightened activity, with many buyers rushing to complete transactions before potential budget impacts took effect.
While buyer demand and sales agreements increased, experts warned of potential headwinds from rising bond yields affecting mortgage rates.
The rental market is strained, with a growing number of tenants and a significant drop in landlord instructions, pushing rental prices higher.
Despite the budget's clarity on certain tax rates, uncertainties about future borrowing costs and economic policies remain.