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Evening Standard
Evening Standard
World
Jonathan Prynn

London market cools as house prices drop around Britain

House prices in London fell at their fastest rate since the start of the financial crisis last month

(Picture: Shutterstock / GagliardiImages)

House prices fell at their fastest rate since the start of the financial crisis last month as the toxic fallout from Kwasi Kwarteng’s disastrous mini-Budget sent the property market plunging.

Latest figures from Britain’s biggest mortgage lender, Halifax, showed that the average cost of a home in Britain dropped 2.3 per cent last month, the third consecutive monthly decline and the biggest since October 2008.

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