Creating luxury homes



House price inflation across the UK is continuing to ease, according to the latest data from the Office for National Statistics (ONS). Prices rose by 6.9% in the year to October, down from 7% in September.

However, the number of homes for sale is at near 30-year lows, which is why some say the pace of house price growth has remained broadly stable. It's a view backed up by Bank of England figures showing the number of new mortgages being approved by banks and building societies falling to its lowest for a year and a half in July.

In September, the Royal Institution of Chartered Surveyors said the housing market had "settled down" since Brexit.

A total of 97,640 residential properties were bought in the UK in October, a 1% rise on the previous month but 8% lower than a year earlier, HM Revenue and Customs data showed.