UK house prices are falling at the fastest rate since mid-2020

UK house prices fell more than expected in November, as rising borrowing costs affected market sentiment.

British home prices fell by 1.4% in November, which is the largest monthly decline since June 2020, according to data from the Nationwide mortgage lender.

On an annual basis, house price growth in the UK slowed to 4.4% after October’s rise of 7.2%.