Business · 1 day ago
UK house prices rose just 0.5% in October, averaging £273,566
Evelyn Simak via Wikimedia Commons (CC BY-SA 2.0)
Nationwide, the building society that tracks house prices, says UK prices rose just 0.5% in the year to October, with the average home at £273,566. Its chief economist Robert Gardner expects prices to fall further, because new buyer inquiries are weak and mortgage costs are climbing. Moneyfacts, which tracks mortgage rates, put the average five-year fixed deal at 5.99% on Thursday.
Reported by Guardian · How we write briefs