UK housing market slows as Iran war hits demand, Halifax data shows
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UK house prices fell by 0.1% in April, marking a second consecutive monthly decline, as the war in Iran dampened buyer demand. Annual growth slowed to 0.4%, the lowest since December. The Bank of England maintained borrowing costs at 3.75%, but inflation risks from the conflict have led to expectations of rate hikes. Local election results indicated potential challenges for the Labour Party, raising concerns about future government borrowing. Other indicators show weakened demand in the property sector, although Nationwide reported a 0.4% rise in house prices for April.
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