House prices in Edinburgh saw the biggest decrease since June 2020 in during November.
According to the Nationwide November House Price Index, prices fell 1.4 per cent month on month following a 0.9 per cent drop in November. The data also revealed that annual house prices across the UK slowed to 4.4 per cent in November, from 7.2 per cent in the previous month. And the decrease is expected to continue, with the annual rate of growth expected to fall sharply as we enter 2023.
It comes as the fall out from the mini-Budget continues to impact the market. And even after taking season effects into account, the slowdown is the biggest since over two years ago in the midst of the Covid-19 pandemic.
