Rolling coverage of the latest economic and financial news, as eurozone inflation falls faster than forecast this month.
UK property transactions fell again last month, data from HMRC shows, as the housing market continued to cool.
There were 82,910 UK residential transactions in October (on a seasonally-adjusted basis), which is 3% lower than in September…. and 21% lower than October 2022.
“Firstly, we are still coming down from a bubble caused by Covid and Stamp Duty reductions, which created double-digit house price growth for much of the past three years.
Secondly, the higher base rate is designed to cool demand and therefore pricing in the economy, and it is working to plan.
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