HOUSE prices have hit a record high, despite recent turmoil in the mortgage market. The average asking price on a property hit £371,158 in October, according to Rightmove. That’ s an increase…
Rightmove’s director of property science said: "What’s going to happen to house prices is understandably on the minds of many home-movers right now, especially following the market uncertainty after the government’s mini-budget.
"It will take a bit of time for the market to settle in to a new, more ‘normal’ level of activity following over two years of market frenzy, especially with new developments happening almost daily at the moment."as they normally doThe property website says it will be important to separate these seasonal price changes from market changes caused by other factors.
"Agents report that many of those who managed to secure a mortgage offer at a lower rate before lenders quickly increased them are now rushing through their agreed deal to avoid their offer expiring and facing a higher rate when they come to reapply.
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