![]() ![]() The housing market showed signs of recovery in early 2023 after a jump in mortgage rates at the end of last year triggered by former Prime Minister Liz Truss's "mini-budget" plans for tax cuts which sent financial markets into turmoil. House prices edged down by 0.1% in May from April after a monthly 0.4% rise in April, Nationwide said. That was the biggest year-on-year drop since 2009, during the global financial crisis. ![]() LONDON (Reuters) -British house prices fell by the most since 2009 in the 12 months to May and the country's housing market faces further headwinds after a recent jump in borrowing costs, mortgage lender Nationwide said on Thursday.Ĭompared with May last year, the average house price was down 3.4% after a 2.7% annual fall in April, Nationwide said. ![]()
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