December 4, 2022

UK home costs fall in October as borrowing prices rise

UK house prices fall in October as borrowing costs rise

UK house prices fall in October as borrowing costs rise

Home costs fell final month for the primary time in additional than a yr because the market upheaval sparked by the UK authorities’s “mini” Price range drove up borrowing prices and hit family funds.

Constructing society Nationwide on Tuesday mentioned that home costs fell 0.9 per cent between September and October. That’s the first such drop since July 2021, when a reduce to stamp responsibility was being phased out, and the biggest fall since June 2020 on the peak of the coronavirus pandemic.

Annual…

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