UK’s Mortgage Crunch Is Easing as House Prices Stay Put
- House prices unchanged following two months of declines
- Slump eases in London’s market while sales of flats hold up
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UK house prices held up better than forecast in September as the surge in mortgage rates showed signs of easing.
The average price of a home was unchanged at £257,808 ($314,060) after two months of falls, mortgage lender Nationwide Building Society said in a statement Monday. Economists in a Bloomberg survey had predicted a drop of 0.4%. Prices fell 5.3% from a year earlier, the same pace as in August.