UK house prices post biggest drop in 14 years by Alborsanews

UK house prices fell for the third consecutive month in November, coinciding with a state of extreme volatility prevailing in the country’s housing market.

And the “Halifax” mortgage lender announced that home prices fell 4.7% year over year in November, while they fell 2.3% month over month.

And as quoted by the BBC, Halifax mortgage director Kim Kinnaird said: At a time when the market was expected to slow down due to economic headwinds, this month’s decline reflects the worst market fluctuations in recent months.

Despite this, Kim indicated that this decline is attributed to the increase in property prices in recent years.