UK house prices fall by just £3,000 in past year

Homes in Britain have fallen in value by an average of only £3,000 or so over the past year, according to the official measure of house prices. The average price of a house in the UK fell to £287,782 in October, down by 0.7%, which is 1.2%, or £3,411, below the £291,193 recorded in the same month of 2022. In England, prices fell by 1.4% to £306,000, on average, with the northeast the only region to generate a rise, with prices increasing 0.2%. Meanwhile, prices in London fell the most, down by 3.6%. Prices of detached houses were unchanged year-on-year, while semi-detached homes declined in value by 0.3%. Terraced house prices also fell by 2% and flats fell by 2.5%. Anthony Codling, at RBC Capital Markets, said the relatively small drop was "testament to just how robust the UK housing market is." 

Financial Times   The Times   Daily Mail   The Independent