House prices in Brexit slump: Nearly £7,000 knocked off price of average UK home as uncertainty continues
The property market suffered one of its biggest monthly falls since the financial crisis last month as uncertainly over Brexit undermined buyers’ confidence.
The average price of a home across the country slumped 2.9 per cent to £223,691 in January wiping almost £7,000 of its value, according to latest figures from mortgage lender Halifax. The fall brought the annual rate of house price inflation down to just 0.8 per cent.
Halifax managing director Russell Galley, said: “There’s no doubt that the next year will be important for the housing market with much of the immediate focus on what impact Brexit may have.