Prices fall in October
House prices fell in October for the first time in two years, according to a new survey


House prices fell by 0.1% in October, the first price fall for two years, according to the latest national housing market survey from Hometrack, the Housing Intelligence Business. The small decline this month follows two months of zero growth, with the annual growth rate falling back to 4.4%. Average prices were down between - 0.1 and - 0.2% across all regions except the West Midlands where values remained unchanged. 'The fall in prices over October is not unexpected. After several months of weaker buyer confidence, falling levels of demand and declining sales volumes, prices were bound to be affected, says Richard Donnell, Hometrack's research director. He adds: 'We expect further small price falls in the months ahead, but these are likely to remain limited as there remains no evidence of any increase in the supply of homes for sale. If anything, the current uncertainty appears to be resulting in a decline in the numbers of homes coming to the market, which is likely to support underlying prices in the coming months.' Overall, Hometrack anticipates further slow growth over the coming months, with small price drops likely in markets where achievable pricing levels are falling into line with demand. This is likely to be focused on markets that have seen the greatest price rises over recent years, with values in localised areas falling back off a high base. The scale of these falls should be limited by a lack of supply coming to the market for sale, believes Mr Donnell. * Search for premium property online
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
Country Life is unlike any other magazine: the only glossy weekly on the newsstand and the only magazine that has been guest-edited by HRH The King not once, but twice. It is a celebration of modern rural life and all its diverse joys and pleasures — that was first published in Queen Victoria's Diamond Jubilee year. Our eclectic mixture of witty and informative content — from the most up-to-date property news and commentary and a coveted glimpse inside some of the UK's best houses and gardens, to gardening, the arts and interior design, written by experts in their field — still cannot be found in print or online, anywhere else.
-
Rogue sellers and puppy farmers are exploiting Government licensing loopholes at the expense of responsible dog breeders, says The Kennel Club
The Kennel Club launched a report in the House of Commons last week calling for an urgent review of current licensing regulations.
By Annunciata Elwes Published
-
The real Bear Grylls: Country Life Quiz of the Day, July 2, 2025
Britain's longest pier is among the highlights of Wednesday's Quiz of the Day.
By Country Life Published