The Bank of England has decided to keep the base rate at 5.25% for the second month in a row.
Asking prices for homes have increased just 0.5% this month - making it the weakest October growth in 15 years.
The Nationwide reported a UK wide drop in the average house price of 5.3% in the year to August, with Halifax's data for the same period shows a 4.6% drop. The time from instructing your solicitor to exchange is now approximately 113 days.
The Bank of England has voted to leave UK interest rates on hold at 5.25%. This is the first time since November 2021 that UK borrowing costs have stayed on hold.
The Bank's Monetary Policy Committee voted to leave borrowing costs unchanged after yesterday's surprise fall in inflation.
The average UK house price dropped by 4.6% in the year to August, falling at the fastest annual rate since 2009, according to the latest index from Halifax.
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