UK house price growth fizzling out; crypto industry rocked by $6.3bn Binance hack – business live

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Britain’s housing market is feeling an autumnal chill, as rising mortgage rates hits demand.

UK annual house price growth slowed to 0.5% in October, the slowest pace since January 2024, new data from Nationwide this morning shows. That’s down from 0.8% in the year to September.

On a monthly basis, the average price of a house was unchanged this month.

The jump in fixed-rate mortgages to almost 6%, on average, appears to have dampened buyers’ enthusiasm, pushing up the cost of repaying a mortgage.