- Prior 0.0%
- House prices +7.2% y/y
- Prior +9.5%
UK house prices show a first monthly decline since July 2021 with a sharp slowdown seen in the annual house price growth last month. Nationwide notes that:
“The market has undoubtedly been impacted by the turmoil following the mini-Budget, which led to a sharp rise in market interest rates. Higher borrowing costs have added to stretched housing affordability at a time when household finances are already under pressure from high inflation."
