Average house prices fell 2.3% in November, reports Halifax, knocking average house price down by almost £7,000 in November
- Hunt to urge banks to aid mortgage borrowers amid cost-of-living crisis
Elsewhere this morning, greeting card company Moonpig has cut its annual revenue forecast on Wednesday after business was hit by postal strikes at Royal Mail.
Moonpig told shareholders that trading conditions have “become progressively more challenging through October and November”, citing continued macroeconomic uncertainty and industrial action at the UK postal operator.
Levels of new customer acquisition have decreased year-on-year and we have seen consumers trading down to lower gifting price points at Moonpig and Greetz.
UK card-only orders have also been impacted by industrial action at Royal Mail during September and October.
“Prices are coming down but we’re ignoring the overly negative predictions about house values. After all, if house prices fall 5%, all that means is your home is worth roughly what is was in January. If house prices fall 10%, all that means is you home is worth roughly what it was last summer.
Conclusion: your home is still worth much more than it was three years ago, before the pandemic.
Continue reading…
