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UK House Price Growth Slows to Lowest Rate in Years Amid Rising Mortgage Costs
UK house price growth dropped to an annual rate of 0.5% in October, marking the slowest pace in over two years. According to Nationwide Building Society, higher mortgage rates have placed the property market under pressure and weighed down buyer demand.
Referenced News Coverage (3 sources)
- UK house price growth hits near three-year low as mortgage costs bite (The Independent UK)
- Annual house price growth slows to weakest since January 2024 (Evening Standard)
- UK house prices grow at slowest pace in two years as mortgage rates rise (The Guardian)