UK house prices fall for sixth consecutive month

Halifax has announced that UK house prices were 4.7% lower in September than a year earlier, the biggest year-on-year drop since 2009. The average price of a typical UK home fell to £278,601, down from £292,197 in the same month last year. Britain's biggest mortgage lender said house prices fell 0.4% month-on-month in September, the sixth fall in a row, though this was less than the 1.8% drop in prices in August. The data also found that house prices in every region had fallen in the past year, with the average price in London dropping 4.8%, to £525,678.

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