The average UK house price currently stands at £271,079 (PA Wire)
UKhouse prices experienced a 0.1% month-on-month dip in August, as reported by Nationwide Building Society.
Annual house price growth also weakened, reaching 2.1% in August.
The average UK house price currently stands at £271,079.
This subdued growth is primarily due to stretched affordability, high house prices relative to household incomes, and significantly increased mortgage costs.
Experts anticipate gradual improvements in affordability if income growth continues to outpace house price growth and borrowing costs moderate, supporting buyer demand.
