Halifax House Price Index shows sixth consecutive monthly fall and 4.7% drop in 2023

UK house prices fell again in September, but the pace of the monthly decline slowed, according to the Halifax House Price Index.

The lender said the average house price fell by 0.4 percent in September, compared to a drop of 1.8 percent in August.

Property prices were also 4.7 percent down on an annual basis, compared to -4.5 percent last month.

The data release shows that squeezed buyer affordability is lowering house prices although they still remain much higher than pre-pandemic levels.

Sellers increasingly slashed asking prices to secure a sale.