Many homeowners looking to sell their homes are having to cut their asking prices as high interest and mortgage rates, alongside affordability issues, have led to a lull in the property market.

House prices fell unexpectedly in August, with the average price of a property sold dropping to £271,079, according to data from Nationwide.

It comes amid rumours of property tax changes in the upcoming Budget, creating uncertainty in the market and leading some to be wary of getting on the ladder at a time of stretched affordability.

One such person who had to cut her asking price is Lucy Baker, 48, a confidence coach and mum-of-three from Woodhall Spa, Lincolnshire.

She says she was forced to sell her bungalow for £342,500, having put it on the market for £395,000 two years earlier.

Lucy

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