Nationwide Building Society data showed UK house prices fell 0.2% month-on-month
to £274,251, the largest monthly decline since May and below economists'
expectation of no change. It was the fourth fall in five months and the
second-weakest month this year after May's 0.6% drop. Mortgage rates near 6% are
weighing on demand. Healthy household savings and Prime Minister Burnham's
Summer cost-of-living measures had supported confidence, but households faced
higher energy bills from today and another large increase is likely in January.
