House prices in the UK fell at their fastest pace since 2011, amid a slump in the real estate market due to higher interest rates. Hellfax Mortgage Bank stated Friday that the average home cost decreased by 2.6 per cent compared to 2022 to reach $364,320. He added that prices fell by 0.1 percent last June alone in the third consecutive decline. According to the bank, the emerging pressure on the ability to repay would affect demand, “as buyers think about what they can actually afford due to higher interest rates.”
Source: Jordan News Agency