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Halifax: UK house prices tread water as mortgage costs rise

February 7, 2023

Via: MoneyWeek

Annual house price growth has slowed to its lowest level recorded over the last three years, raising further doubts about where house prices will go in 2023. Indeed, some analysts are even predicting house prices could fall by as much as 30% in 2023.

Halifax’s latest house price index showed prices remained largely unchanged in January, with the average property price coming in at £281,684 compared to £281,713 in December.

But pace of annual growth slowed to 1.9% in January from 2.1% in December. The average house price has now fallen around £12,500 from its August 2022 peak, according to the Halifax data, after falling for four consecutive months.

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