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<Econ> UK May Halifax Home Price Index Falls 0.1% MoM for Third Straight Month, Misses Forecast
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Weighed down by rising loan rates and uncertainty stemming from the Middle East conflict that suppressed demand, the UK property market continued to cool. Mortgage provider Halifax announced that the UK May Halifax Home Price Index fell 0.1% MoM, marking the third consecutive monthly decline and missing market expectations of a 0.1% increase. On a YoY basis, it rose 0.5%, well below the market forecast of a 1% increase. Amanda Bryden, Head of Mortgages at Halifax, said UK residential property prices continue to reflect uncertainty related to the Middle East. Although mortgage rates have eased recently, higher inflation expectations mean borrowing costs remain above levels seen at the beginning of the year, continuing to constrain affordability for prospective buyers and dampen demand. (da/a) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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