‘Uncomfortably bumpy landing’ for house prices predicted despite August rise

By Joey Gardiner2022-10-19T10:20:00

Official figures show annual price inflation was running at 13.6% in August prior to Kwasi Kwarteng’s mini-Budget announcement

Experts are forecasting an “uncomfortably bumpy landing” for the housing market despite today’s publication of latest government data which showed that UK house prices rose 13.6% year-on-year in August.

The figures from the Office for National Statistics (ONS), which cover the period pre-dating the mini-Budget, show that while the rate of annual inflation narrowed in the month compared to the 16% reported in July, prices still rose by 0.9% month-on-month to reach another record high.

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