Rolling coverage of the latest economic and financial news Lloyds’s Andrew Asaam adds that it’s important to keep the recent drop in house prices in perspective, explaining: Average house prices remain around 25% higher than they were at the end of 2019, despite the substantial increase to interest rates seen over recent years. The market’s adjustment to higher borrowing costs has been gradual, with wage growth helping to offset some of the pressure on affordability. The recent modest declines i

How each outlet headlined it

• Guardian Business left

  Rolling coverage of the latest economic and financial news Lloyds’s Andrew Asaam adds that it’s important to keep the recent drop in house prices in perspective, explaining: Average house prices remain around 25% higher than they were at the end of 2019, despite the substantial increase to interest rates seen over recent years. The market’s adjustment to higher borrowing costs has been gradual, with wage growth helping to offset some of the pressure on affordability. The recent modest declines i
  
• The Guardian left

  Average property cost £298,468 in August, down by 0.4% year on year owing to interest rates and uncertainty Business live – latest updates UK house prices have fallen for the first time in almost three years, as prospective buyers were squeezed by higher mortgage rates, geopolitical uncertainty and stretched affordability. Prices have dropped by 0.4% compared with a year ago, the first year-on-year decrease since November 2023, according to the lender Lloyds. That came in below expectations of a