Halifax reports steepest monthly drop since February 2021 amid interest rate rises
UK house prices fell by 0.4% in October after Liz Truss’s mini-budget drove a sudden rise in mortgage rates, the lender Halifax said.
The decline in the average price to £292,598 was the third in the past four months and the steepest since February 2021. The annual rate of growth in house prices slowed to 8.3% in October from 9.8% in September.
Halifax reports steepest monthly drop since February 2021 amid interest rate risesUK house prices fell by 0.4% in October after Liz Truss’s mini-budget drove a sudden rise in mortgage rates, the lender Halifax said.The decline in the average price to £292,598 was the third in the past four months and the steepest since February 2021. The annual rate of growth in house prices slowed to 8.3% in October from 9.8% in September. Continue reading…
