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House prices to slow "considerably" in coming year

Latest Halifax survey blames households facing a squeeze on finances

UK house price growth is set to slow "considerably" in the coming year, as households face a squeeze on their finances.

That's according to the latest Halifax survey. 

The mortgage lender says house prices grew by 0.3% in January, the lowest monthly increase since June 2021.

However, the rise meant the average price hit a record high of £276,759, while affordability remained at "historically low levels".

The average Isle of Man house price is currently £313,192.

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