Demand stabilising but prices set to remain firm

Inflation, the rate at which prices are rising, recorded a record jump in August rising to 3.2% up from 2.0% in July.

Food and petrol prices are considerably higher than this time a year ago, when travel restrictions remained.

The rise is expected to be temporary, with the latest government forecasts predicting inflation will be 2.4% a year from now, before falling back down below the government's 2.0% target in 2023.

Rising inflation also places pressure on the Bank of England to raise interest rates to curb spending.

Buyer demand is stabilising according to the latest edition of the RICS Residential Survey.

At a national level the new buyer enquiries indicator posted a net balance of zero in September, a sign of stable demand.

For the third consecutive month the volume of newly agreed sales fell back, a net balance of agents (-15) citing a decline.

Sales volumes are expected to remain stready throughout the final quarter of 2021.

What are your moving plans? Are you contemplating putting your home on the market before Christmas or is this something you might consider in the New Year?

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