In October, along with the quieter market the house price started to show signs of a correction. An increase in ‘price reductions’, more ‘fall through’, fewer mortgage products available and less people looking to sell.
However, all this being said, since Truss stepped down and Rishi Sunak stepped up, the confidence in the UK economy has greatly improved which has helped plateau the rising mortgage rates. This has also means more stability for the housing market.