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Drop in March leaves average price of home at £288,430, says HalifaxBusiness live – latest updatesUK house prices fell in March for the first time in six months as more costly mortgage deals and continued uncertainty about when the Bank of England would start cutting interest rates hit the property market.House prices fell by 1%, or £2,908, in March compared with February, according to...

Halifax says prices grew by 1.7% on an annual basis with the average UK house now costing £291,699Business live – news and updatesCornish village where 52% of houses are not first homesThe average UK house price is now just £1,800 off the peak seen in June 2022 after it increased by 0.4% in February, marking the fifth monthly rise in a row, according to...

Report calls for overhaul of rules on loan affordability and repayment, and more flexible mortgage productsMortgage reforms introduced after the 2008 banking crisis have “tilted too far” in support of financial stability to the point that first-time buyers are being excluded from the housing market, building societies have warned.A report commissioned by the Building Societies Association has called for an overhaul of affordability and...

Average cost of a home increased to £260,420 in February, up by 1.2% on a year earlier, says NationwideBusiness live – latest updatesUK house prices grew for the first time on an annual basis in more than a year in February, as a decline in borrowing costs prompted an uptick in the housing market, according to a survey.The average price of a home rose...

Growth rates driven by shortage of properties on market, says Halifax, with average house worth £287,105UK homeowners face £19bn rise in mortgage costsUK homeowners fear 2024 mortgage timebombBusiness live – latest updatesUK house prices rose for a third consecutive month in December amid a shortage of properties on the market, but are forecast to drop this year, according to Halifax.Britain’s biggest mortgage lender, which...

Second year of falling prices expected though recovery is likely in the second half as interest rates come downBritain’s housing market is “past peak pain”, the upmarket estate agent Savills has said. The big mortgage lenders Halifax and Nationwide building society have recorded monthly house price gains in recent months, which have taken some by surprise. But that does not mean the annual declines...

Property market weak, says Nationwide, which expects prices to remain flat or drop slightly in 2024Business live – latest updates 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...