Page 2 - Nick Leeming News Today

The annual rise in UK private rental prices remains unchanged at a record-high level, the Office for National Statistics said.

The typical house price in December 2023 was £285,000, marking a 1.4% decline over 12 months, the Office for National Statistics (ONS) said

The annual rise in UK private rental prices remains unchanged at a record-high level, the Office for National Statistics said.

The perfect storm of soaring levels of inflation and ever-increasing interest rates appears, finally, to be moving on.

A new online calculator can reveal how much your property may have gained or lost in value over the last year - as average property prices fell at their fastest rate for more than 12 years. 

A surprise acceleration in inflation on Wednesday could make some lenders more cautious when cutting mortgage rates, experts have suggested.

The average UK house price decreased by 2.1% in the 12 months to November 2023, the largest annual fall since 2011, with the average house price now £285,000 - £6,000 lower than 12 months ago. This is according to the latest figures from the Office for National Statistics which on a country by country measure shows

House prices fell by 2.1% over the 12 months to November 2023 to reach £285,000 on average, the Office for National Statistics

Experts threw doubt on figures for London house prices, with one saying data should be taken with "a pinch of salt", as it is "out of date".

Bold interior trends, falling borrowing costs and new opportunities for first-time buyers will bring colour and life back into the property market in 2024.