According to the latest data report, property prices experienced a slight decline nationwide, but there are variations in performance between different regions. Although the overall trend is somewhat uncertain, property prices in certain regions continue to rise, with the Northwest England region, including Manchester, standing out prominently. Additionally, the rapid growth of rents has become a focal point in the market, particularly in the London area.

On the policy front, the introduction of the "Autumn Budget" promises to increase housing subsidies to 30% of local market rents, benefiting an estimated 1.6 million households. This initiative is expected to drive the development of the property market.

However, in the context of persistently high inflation, with the Consumer Prices Index (CPI) inflation rate reaching 6%, it has a direct impact on the property market and rental prices. Nevertheless, the Bank of England has taken corresponding measures to alleviate the pressure from inflation, and the news of a pause in interest rate hikes is expected to boost market confidence.

Looking at regional breakdowns, the Powys area in Wales leads with a 17.4% annual growth rate, while the East Lindsey area on the East Coast of Lincolnshire and the Mary area in Scotland also show relatively high property price growth rates. In London, property prices have seen a year-on-year increase in traditionally affluent areas like Richmond and Hammersmith and Fulham, highlighting the complexity between different regions.

Furthermore, the growth in rental prices is also worth noting. Nationwide, rents are expected to rise by 6.5%, with London's rents projected to increase by approximately 8%. The main reason for this phenomenon is the imbalance between supply and demand, with limited rental property supply in the market and a continuous increase in rental demand.

Economically, the Bank of England's decision to pause interest rate hikes for the first time in nearly two years has had a positive impact on the property market and is considered a sign of economic "recovery."

However, the persistently high inflation rate poses challenges to the property market and rental levels. Nevertheless, the central bank has taken a series of measures to alleviate this issue, and it is expected that the high inflation rate and mortgage rates will gradually stabilize, with a positive impact on the UK real estate market expected to begin in 2024.