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Halifax House Prices (Oct.)

The 0.4% m/m fall in house prices reported by Halifax backs up the data from Nationwide that house price falls are becoming entrenched. Surging mortgage interest rates have flattened demand, as many buyers find themselves priced out of the market. With mortgage rates set to remain over 5% in 2023, demand will remain depressed and lead to a 12% peak-to-trough fall in house prices.

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