House prices fell 5.3% year-on-year in August, the sharpest fall in 14 years and a much faster drop than expected, in a sign that interest rate hikes are clearly talking their toll on the property sector.
Princes were down 0.8% month-on-month, compared to a 0.4% expected drop. That was much steeper than the gentle declines since in earlier months this year, but still less than the drop following last yea’rs mini-Budget.
