UK House Prices in Steepest Drop Since August 2023, Halifax Says

UK house prices dropped at the sharpest rate in almost two-and-a-half years in December, according to figures from a mortgage lender that suggested Labour’s tax-raising budget discouraged aspiring buyers.

Halifax said average home values fell 0.6% to £297,755, the second consecutive decline after November’s figure was revised from flat to minus 0.1%. It took the annual growth rate down to 0.3%.