Business · 8 hours ago
UK House Prices Fall 0.6% in Steepest Drop for Three Years
Evelyn Simak, CC BY-SA 2.0, via Geograph/Wikimedia
UK house prices fell 0.6 percent in October to an average of £296,285, Lloyds said, the steepest monthly drop since August 2023. Annual prices were down 1.2 percent, the biggest yearly fall since October 2023. High mortgage rates and Middle East-driven inflation are making buyers cautious. Greater London led annual declines. Figures came a day after the Bank of England raised rates to 4 percent.
Reported by The Guardian · How we write briefs