Three months of Budget rumours have stalled activity in parts of the UK economy. But at the top of the property market, some have accelerated their plans before possible new measures...

Over a third of homes on the market have had their asking prices reduced, with an average drop of 7%.

A ‘Wait and see’ mood is shaping activity before this month's Budget announcement

Speculation surrounding this month's budget continues to squeeze the brakes on the UK property market.

Reeves is expected to announce tax rises on 26 November as the government attempts to plug the reported £22bn gap in the public finances.

Growing numbers of buyers are opting to delay their property plans until after the Autumn Budget, focusing on long-term affordability rather than short-term tax changes.

Property transactions reached 87,360 in August, above the five-year monthly average of 86,289.

Tom Bill, head of UK residential research at Knight Frank, explores the potential return of the Mansion Tax and its likely impact on London’s prime property market.

Andy Thompson, director at Eddisons, asks whether clarity can be delivered in the Budget, giving buyers, sellers, landlords and investors a greater understanding of the route ahead.

A fifth (19%) are adopting a “wait and see” approach on their plans to downsize.