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The Guardian - UK

Business

Kalyeena Makortoff

BIZARRE: Uk house prices suffer sharpest fall in 14 years - What They Never Told You

United Kingdom Halifax Kim Kinnaird Interest Rates Bank of England

a for sale sign outside a terrace of white victorian home — Halifax says house prices in the UK have suffered a sharp drop. Photograph: Anadolu Agency/Getty Images

UK house prices suffered their sharpest annual drop in 14 years, as the seasonal summer slump and high mortgage costs dragged on sales.

Data released by Halifax, Britain’s biggest mortgage lender, showed that prices fell by 4.6% in August, marking the biggest year-on-year decrease since 2009.

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