A row of houses is shown in London, England. Picture: 123RF/greta6
. The average cost of a home was £281,272 , according to Halifax, down 4.3% from a peak of £293,992 in August. Halifax said prices are now falling in every region of the UK. The north east of England saw the biggest slowdown in the annual pace of growth, falling four percentage points in December to 6.5% annual growth.
The Bank of England has increased its benchmark lending rate nine times since December 2021, putting it at 3.5%, the highest since 2008. Investors anticipate another one percentage point of hikes this year.
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