U.K. house prices fall by the most in 14 years

2023-08-01 - Scroll down for original article

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U.K. house prices skidded in July by the most in 14 years, a leading mortgage provider said Tuesday. Nationwide reported a 0.2% seasonally adjusted change in July to take its home price index down 3.8% year-over-year. The decline in home prices comes as the Bank of England has aggressively raised interest rates to fight inflation, which at nearly 8% is one of the highest in the industrialized world.