What's going on?

The British housing market took a slide in September, sending hopeful sellers back by more than a few places.

What does this mean?

UK house prices were staying true to the country�s spirit, remaining stoic and unemotional in the face of economic uncertainty. But a tremble on an upper lip quickly opened the floodgates, and property prices headed south, fast. September�s 0.4% drop from the month before means folk sold their keys for nearly 5% less than the same time last year, according to UK lender Halifax. That difference was slightly smaller in London, while the South of England saw the biggest change.

Why should I care?

For markets: I�m holding out for a bargain.
September�s price dip was a lot less steep than August�s, though, which Halifax believes is a sign that prices are about to hit their lowest point. But property experts disagree: they reckon prices will end up about 10% lower than before they started falling. Either way, inflation will likely call the shots. If it hits the Bank of England�s 2% target over the next few months, mortgage lenders will anticipate lower interest rates and bring down their own borrowing rates. Would-be homeowners, then, should keep an eye on the next inflation reading, out on October 18th.

Zooming out: Alexa, play Bills, Bills, Bills by Destiny�s Child.
The British rental market�s moving in the complete opposite direction, with online property firm Rightmove saying rents jumped by 12% in August from the month before. That means regular tenants are scrambling to find �1,300 ($1,590) on average every month to put a roof over their heads. And unfortunately for renters, those bills could build: interest rates are still sending landlords� mortgages higher, and those increases tend to be funneled into rents with a delay.