House prices fall nearly 2% in August

By Joey Gardiner2023-09-07T10:24:00

Halifax says year-on-year drop now the steepest since the global financial crisis

House prices fell by nearly 2% in August as the impact of rising mortgages rates was felt by homebuyers, according to the latest data from the Halifax.

The mortgage lender said the average price of a home fell by 1.9%, the biggest month-on-month fall since November last year in the immediate aftermath of the mini-Budget. The drop took the mean price of a home to £279,569, down 4.6% from August last year.

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