Business · 9 hours ago
UK House Price Growth Slows to Two-Year Low as Mortgages Rise
Mat Fascione, CC BY-SA 2.0, via Geograph/Wikimedia Commons
UK house prices rose just 0.5% over the year to October, the slowest pace in more than two years, according to Nationwide. The average home now costs £273,566, unchanged on September. Buyers are now being put off by mortgage costs, with average five-year fixed deals nearing 6%. Nationwide's chief economist warned prices could fall further, with a Bank of England rate rise expected next week.
Reported by The Guardian · How we write briefs