House prices may be set to shrink
Britain’s biggest mortgage lender today warned of “significant downward pressure” on house prices over the coming months as soaring borrowing costs take their toll on the property market.
Halifax said average prices dipped 0.1 per cent to £293,992 in September — the month of Kwasi Kwarteng’s mini-Budget which triggered chaos in the mortgage market — but are up almost 10 per cent year on year.
