# UK house prices fall at steepest rate in more than three years

- URL: https://talkfuse.com/story/uk-house-prices-fall-at-steepest-rate-in-more-than-three-years/
- Published: 2026-11-06T08:05:48+00:00
- Updated: 2026-11-06T08:18:31+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/06/uk-house-prices-fall-at-steepest-rate-in-more-than-three-years
- Topics: Business, Software, Technology, UK, World

## Key points

- UK house prices fell 0.6% in October.
- The average property price was £296,285.
- Mortgage costs are weighing on demand.

## Summary

UK house prices fell at their fastest monthly rate in more than three years in October, with the average property price down 0.6% to £296,285. The decline was the fourth in a row and came as higher mortgage costs and pressure on household budgets made buyers more cautious.

Prices were 1.2% lower than a year earlier, the biggest annual fall since October 2023, despite analysts expecting a slight monthly rise. Average fixed mortgage rates were 5.97% for two years and 5.99% for five years; the Bank of England had raised its base rate to 4% a day before the figures. Savills forecast the sluggish market would not recover until 2028.

---
Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.