Picture encapsulates current property market in Aylesbury amid rising mortgage rates

This photo taken in Aylesbury reflects the growing national trend of homeowners looking to move into more manageable properties this winter.

With the cost of running a home dramatically increasing this year due to soaring energy prices it appears more homes are going up for sale in the town.

Despite many households facing difficulties making ends meet this winter, most recent figures showed that house prices went up in Bucks.

House prices increased by 1.4% in the county, Land Registry figures for August show.

New data reveals that the average house price in Bucks is £491,369 which is an increase from July’s total.

This trend is unlikely to continue however, as the market is set to react to the huge mortgage hikes in the UK offset by Kwasi Kwarteng’s mini-budget last month.

National reports suggest the Bank of England will raise the cost of borrowing by 2.25% to 6% next year.

There are around 900 fewer mortgage products available than there were on the day of the mini-budget in September.

Chris Druce, senior research analyst at Knight Frank, said: “Current activity in the housing market is being shaped by mortgage status.

“Those that can are pushing on and securing deals ahead of further increases, while others have paused plans to digest events.

“With affordability set to be a growing barrier for many homebuyers in the coming months, we forecast house price growth will slow from here, with price falls in 2023.”

With energy prices soaring across the UK many families have also been more reluctant to heat and light their homes this winter.

Some families have used candles instead of using extra electricity in their lounge, while other homeowners have resisted turning the heating on all autumn, wanting only to take the hit when temperatures really drop in the winter.

Food and energy prices have been going up around the world following Russia's invasion of Ukraine which has disrupted production and exports.

Meaning costs have increased at supermarkets and convenience stores for most of 2022.