UK house prices fall unexpectedly for second month in a row
Tumbling House Prices Raise Affordability Concerns
A Downward Spiral
UK house prices have unexpectedly declined for the second consecutive month in April, according to the building society Nationwide. This slowdown has been attributed to ‘affordability pressures’ stemming from high mortgage rates, casting a shadow over the traditional spring homebuying season.
UK House Prices Start To Tumble
Introduction
According to the latest data from the Office for National Statistics (ONS), house prices in the UK fell 2.1% year-on-year in November 2023. This marks the first annual decline since the 2008 financial crisis and suggests the long-running UK housing boom may finally be over. In this blog, I’ll analyze the key factors behind the slide in prices and what it could mean going forward.
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