UK house prices expected to fall as mortgage rates soar

Average house price fell by 0.1% month on month in September to 293,835, says Halifax

• Explainer: UK mortgage rates are soaring - what can you do?

Rising mortgage costs and the broader cost of living crisis will push UK house prices down more sharply in the coming months, according to Halifax, after prices dipped 0.1% in September.

Halifax said the market had been almost flat since June but was now heading into a more significant slowdown as rapidly rising borrowing costs made buying a property unaffordable for more people.