UK House Prices Fall Fastest in 14 Years, Halifax Says
- Jump in mortgage rates weighs on affordability of new homes
- London prices lag annual gains in the rest of the nation
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UK house prices fell at the sharpest pace in 14 years in November after surging interest rates reduced the affordability of properties, Halifax said.
The mortgage lender said prices fell 2.3%, the third consecutive decline. A typical property in the UK now costs £285,579 ($346,280), the lowest since March.