House prices recorded the biggest monthly fall in October since early 2021, according to the latest analysis from Halifax. And two Bristol property experts predict that prices will drop further as the cost of living crisis continues.
The average property value fell by 0.4 per cent nationally, marking the third month-on-month drop seen in the past four months, Halifax said. The latest month-on-month decrease follows monthly falls of 0.1 per cent in both July and September and a 0.3 per cent increase in August.
Annual house price growth slowed to 8.3 per cent in October, from 9.8 per cent growth recorded in September. Across the UK, the average house price in October was £292,598, which was the lowest figure since May this year, although typical prices remained near record highs, Halifax said.
