UK house prices unexpectedly dropped at the fastest pace for almost six months in September, according to Halifax, as the number of homes for sale in 2018 fell to a decade low.
Britain’s biggest mortgage lender said the average price of a home in Britain dropped to £225,995 last month, down 1.4% from the level recorded in August. The price of a home remained 2.5% higher than a year ago.
City economists had forecast month-on-month growth of 0.2% in September.
The latest snapshot of the housing market a little more than six months before Britain leaves the EU suggests sluggish levels of demand for home buying amid the political uncertainty of Brexit.
Economists said the national picture painted by Halifax obscured some regional differences. London house prices are falling for the first time since 2009, yet prices elsewhere are rising. See more...