It’s a tale of two markets: while private rents have soared to record highs in the UK, making life precarious for tenants, the for-sale sector has slowed sharply and property values have started to fall, with sharper declines predicted for next year.

The average UK home was worth £285,579 as the annual rate of house price growth slowed from 8.2% in October to 4.7% last month, Halifax bank said.

LONDON (Reuters) - Sterling fell on Thursday against the U.S. dollar and euro as the Royal Institution of Chartered Surveyors said Britain saw in November the most widespread house price falls since early in the COVID-19 pandemic.

The Government has officially watered-down proposals for mandatory local housebuilding targets as it brings its flagship Levelling Up and Regeneration Bill back to the House of Parliament today.

Homeowners are having to settle for offers below their asking price as the UK housing market continues to slump.

Soaring rents have in effect made life unaffordable for private tenants across swathes of the UK, according to research undertaken for the Guardian.

With the Help to Buy scheme now closed to new applications and no sign of another Government-led replacement as of yet, many first-time buyers are feeling panic about the scarce options of support available to purchase a property. However, housebuilders and property investors are now offering solutions that many could benefit from.

The number of landlords selling up has risen by nearly 13% in four months, Sky News has learned.