Nationwide warns inflation and rising interest rates will weigh down housing market
UK house prices fell at the fastest pace in two and a half years in November as the fallout from Liz Truss’ disastrous mini-budget put buyers off according to Nationwide, which warned inflation and rising interest rates would weigh on the market in the coming months.
The price of an average home dropped 1.4% to £263,788 in November, according to the lender’s house price index, accelerating a slowdown that saw prices fall 0.9% in October. It was the third monthly fall in a row, and the biggest drop since June 2020.
