House prices have been on the rise across the UK for quite some time, but it looks as though the property market could finally be slowing down. Halifax has recorded the biggest monthly fall in house prices in October since early 2021, according to its latest index.
Property prices dropped by 0.4 percent last month, marking the third consecutive fall in the last four months, with annual house price growth slowing to 8.3 percent from a 9.8 percent growth recorded in September. With the average cost of a home in the UK now £292,598, it is expected that buying a house may begin to become more affordable.
All hope is not lost for house hunters across Greater Manchester as there are some parts of the region where property prices are already dropping drastically. Whilst comparing the average cost of a home in August and October, we found eight areas where house prices have fallen between £25,000 and £73,000 in the last few months, according to figures from Rightmove.
