UK House Prices Fall for First Time in Nearly Three Years, Says Lloyds The latest numbers from Lloyds paint a picture of a housing market in flux.
Rising mortgage rates and geopolitical uncertainty have taken their toll on sales and prices. For the first time in nearly three years, the UK has seen a year on year decline in house prices – 0. 4% to be exact.
At £298,468, the average property price remains a considerable sum for many prospective buyers. They are now facing an added layer of financial uncertainty courtesy of higher inflation and borrowing costs.