UK house prices flatlining as mortgage rates rise, says Nationwide
by Mark Sweney from on (#647R5)
Lender says slowdown will intensify in coming months as household budgets come under more pressure
UK house price growth flatlined in September with a stronger slowdown expected in the coming months as a combination of soaring inflation and mortgage rates makes moving unaffordable for many.
The latest snapshot from the building society Nationwide comes at the end of a torrid week for the housing industry as lenders pulled 40% of available mortgages from the market after Kwasi Kwarteng's mini-budget last Friday.
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