UK house prices fell by 5.3% in August 2023, the fastest annual drop in 14 years

UK house prices fell by 5.3% in August 2023, the fastest annual drop in 14 years.

The fall was driven by rising mortgage costs, which are putting off potential buyers.

Average house prices are now more than £14,500 lower than they were a year ago, and mortgage approvals have plummeted by a fifth compared with pre-pandemic levels: https://bit.ly/45ZZ0RP

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