Core Insights - UK house prices reached a new high in October, indicating market resilience despite increasing speculation about property taxes [1] Group 1: House Price Trends - In October, UK house prices increased by 0.6%, reaching £299,862, following a 0.3% decline in September [1] - Year-on-year, house prices rose by 1.9% compared to the same period last year [1] Group 2: Economic Concerns and Tax Speculation - Economic outlook concerns and the upcoming budget announcement by Chancellor Reeves on November 26 may lead to potential property tax increases [1] - There is a reported £billion gap in the fiscal plan, prompting some Labour Party members to call for wealth taxes to address this shortfall [1] - High-value properties may be subject to a proposed "mansion tax" as part of the fiscal strategy [1]

Core Viewpoint - Rising borrowing costs are suppressing demand, leading to a potential stabilization of UK house prices despite a year-on-year increase of 3.5% in May [1] Group 1: Market Analysis - The CEO of ASK Partners, Daniel Austin, indicates that the increase in borrowing costs is starting to impact homebuyers, which may pressure price growth and lead to stability in the housing market [1] - The latest Nationwide house price index shows a 3.5% increase in house prices compared to the previous year, suggesting some resilience in the market [1]