World Economy

UK House Prices Slide

UK House Prices SlideUK House Prices Slide

UK house prices fell by the most in five months after Britain’s decision to quit the European Union, although it’s still too early to tell how much Brexit has damped the market, Halifax said, Bloomberg reported. Prices dropped 1% in July, the biggest slide since February, reversing a 1.2% gain in June, the mortgage lender said. Values were still up 1.6% in the three months through July and were up 7.8% from a year earlier, to an average £214,678 ($281,765). The outlook for Britain’s property market is uncertain after Britons voted to leave the EU, even after low borrowing costs and strong demand helped to boost prices in recent years.