UK house prices fall again as higher borrowing costs weigh-Halifax By Reuters

LONDON (Reuters) – British house prices fell for the second time in three months in September in month-on-month terms and rising borrowing costs are likely to exert more downward pressure soon, mortgage lender Halifax said on Friday.

House prices fell by 0.1% from August, Halifax said. In annual terms, house prices were 9.9% higher, the slowest such increase since January.

“The prospect of interest rates continuing to rise sharply amid the cost of living squeeze, plus the impact in recent weeks of higher mortgage borrowing costs on affordability, are likely to exert more significant downward pressure on house prices in the months ahead,” Kim Kinnaird , director of Halifax mortgages, said.