The rightmove house price index reached a new all time high after rising by 0,3% this month to £333,462, and while the increase is noticeable, it is only £15 higher than the previous record from July. While the report showed buyer demand at more than double pre-pandemic level, it is worth noting that the "power buyer" continues to benefit from this situation while those still looking to sell their current home have been slightly left behind. Nevertheless, today's report shows further signs of stabilisation in the market as we also continue to see an increase in new listings compared to the final weeks of August. If this trend continues, we could be seeing a larger part of the population actively involved in the market in the coming months which could help stimulate the economy.
Markets slump after negative Asian session
Monday morning saw European indices trading lower after a negative Asian session following rising concerns related to the Chinese real estate market. This also comes after several days of negative performances which has now led several indices, including the German DAX and London FTSE100, to drop to the lowest level since July. While there is a lack of data releases today, investors will be keeping an eye on the upcoming central bank decisions later this week along with any new developments in the Chinese real estate market which could potentially cause a domino effect.
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