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2023-06-01 13:41:09 -

UK House Prices Experience Steepest Annual Decline in Nearly 14 Years, Nationwide Warns of Further Challenges Ahead

According to Nationwide, UK house prices experienced the fastest annual decline in almost 14 years in May. Prices fell by 3.4% compared to the previous year, marking the largest drop since July 2009. The building society also cautioned that further increases in mortgage interest rates could impact the housing market. Rising mortgage rates have been driven by expectations of the Bank of England...

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