UK Property Prices Fall The Most In 14 Years!

UK house prices fell at their sharpest annual pace since 2009 after soaring mortgage rates curtailed how much buyers could afford, Halifax, one of the nation’s biggest mortgage lenders said today. https://www.halifax.co.uk/media-centre/house-price-index.html Halifax said the average value of a home fell 1.9% in August alone to £279,569, the sharpest monthly pace since November. It left prices 4.6% lower than a year ago when the value of UK property peaked. The Bank of England has raised interest rates 14 times since late 2021 tame inflation, and that’s straining the finances of consumers already hit with higher food and energy bills. As […]