UK house prices stall as mortgage rates continue to rise

Summarised from 2 outlets · Updated 7 Oct, 09:00 · Archive

UK house prices showed zero growth last month as mortgage rates increased.

UK house prices showed zero growth last month as mortgage rates continued their upward trajectory. Lloyds recorded a 0% change for house prices on both a monthly and annual basis, signalling stagnation in the market.

The combination of flat prices and rising borrowing costs has prompted warnings about the outlook for the property market. Industry observers have described the situation as 'gathering dark clouds', suggesting deteriorating conditions ahead for buyers and sellers.

How it is being reported

• ‘Gathering dark clouds’ for the property market with 0% growth for house pricesLloyds recorded a 0% change for UK house prices on both a monthly and an annual basis.Evening Standard · 7 Oct, 08:41
• UK property market warned over 'gathering dark clouds' as house prices stall amid rising mortgage ratesMortgage rates are on the rise but house prices across the UK failed to grow last monthThe Independent · 7 Oct, 08:08

In this story: Lloyds · UK

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