UK house prices fall by 1.8% during year amid higher mortgage costs
by Rob Davies from World news | The Guardian on (#6HF49)
Property market weak, says Nationwide, which expects prices to remain flat or drop slightly in 2024
UK house prices fell by 1.8% during 2023, according to the closely watched Nationwide house price index, with activity in the property market described as weak throughout the year.
Nationwide put the fall down to higher mortgage borrowing costs, which have remained more than three times higher than the record lows of 2021 despite recent easing.
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