UK house prices are falling at the fastest pace since August

Housing prices required in Britain fell this month at the fastest pace since last August, with the housing market hit by rising mortgage costs and declining economic activity in the country.

Rightmove showed that wanted home prices fell 1.1% in November, compared to a 9.0% increase in October.

He noted that home sellers are becoming more open about lowering prices to finalize sales.

The number of unsold properties that saw a drop in prices rose to 8% in October, more than double the previous year.

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