Prices fell 2.3% from October to November this year, the biggest monthly drop since October 2008, the UK’s largest mortgage lender said.
A typical UK property is now nearly £7,000 cheaper as the average cost of a house dipped from £292,406 to £285,579.
As a result of this monthly drop, annual house price growth slowed down from 8.2% in October to 4.7% in November.
The lingering economic impact of September’s mini-budget continued to impact buying behaviour.
