UK Housing Market Stumbles on Rising Borrowing Costs and Geopolitical Uncertainty The UK housing market has taken a step back, with house prices falling on an annual basis for the first time since November 2023.
This development is not surprising, given the perfect storm of rising borrowing costs and geopolitical uncertainty that's been brewing over recent months. Lloyds' latest data shows that house prices dropped by 0.
4% in August compared to the same period last year, a decline that follows a 0. 1% monthly drop in July.