Halifax, a British mortgage lender, pointed out that house prices in the fourth quarter of last year in the UK recorded the largest single-quarter decline since February 2009.

(Bloomberg)

[Financial Channel/Comprehensive Report] Halifax (Halifax), one of the largest mortgage lenders in the UK, said that after falling for four consecutive months in December last year, house prices in the UK recorded the largest single-quarter decline since February 2009. , and the full year of 2023 is more likely to fall by as much as 8%.

"Reuters" reported that Halifax said that after a monthly decrease of 2.4% in November 2022, the average house price in the UK in December 2022 will decrease by 1.5% monthly, falling for four consecutive months.

If calculated on a quarterly basis, it fell by 2.5% in a single quarter, the largest single-quarter decline since February 2009.

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Halifax director Kim Kinnaird said uncertainty about the impact of higher living costs on household spending, combined with rising interest rates, was contributing to an overall slowdown in the housing market.

Halifax estimates that UK house prices will fall by 8% in 2023, but this only means that house prices will return to April 2021 levels.

Kinnard pointed out that as we enter 2023, the housing market will continue to be affected by the broader economic environment, and both buyers and sellers maintain a conservative attitude, and the overall supply and demand in the housing market is expected to decrease.

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