Advertisement
News

Housing prices fell 2.3 percent

Housing prices in the UK fell by 2.3 percent in November this year, recording the sharpest monthly decline since the 2008 financial crisis.

In a statement made by British housing loan financing institution Halifax, it was reported that housing prices in the country decreased by 2.3 percent in November, and the price of an average house decreased from 292 thousand 406 pounds to 285 thousand 579 pounds.

Advertisement

In the statement, which stated that the housing prices in the country increased by 4.7 percent on an annual basis as of November, it was reminded that the said data was at the level of 8.2 percent in the same month of the previous year.

Halifax Housing Loans Director Kim Kinnaird, whose evaluations are included in the statement, stated that there is a normalization process in housing prices in the country, and that the price performance next year will largely depend on inflation.

“While a slowdown in the market is expected given high housing price inflation, this month’s decline reflects the worst of market volatility in recent months,” Kinnaird said. used the phrase.

While the British economy contracted by 0.2 percent in the third quarter of this year, the Bank of England reported that the country had entered recession.

 

Advertisement

In November this year, food prices in the country increased by 14.6 percent.

Inflation in the UK continued to rise, especially led by energy and food prices, reaching a peak of 41 years with 11.1 percent in October.

Advertisement

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button