Prices have been down for six consecutive months, according to Halifax House prices in Britain dropped by 4.7% year-on-year in September due to the impact of high mortgage rates, Halifax reported on Friday in its latest monthly update. The decline was an acceleration on the previous month’s 4.5% drop, and was the biggest annual fall in more than 14 years, data showed. The drop meant the average cost of a house in the UK is £14,000 ($17,100) lower than the peak seen in August last year. According to the report, the price for an average UK home has now plunged to levels seen in early 2022, at around $340,000.
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