House prices see first monthly fall since July 2021, says Nationwide
Investors reacted badly to the plan unveiled by the previous prime minister Liz Truss and her chancellor Kwasi Kwarteng in September, which promised billions of pounds of tax cuts without explaining how they would be paid for.
The figures paint a picture of "sharply weakening demand", said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Ms Streeter warned that the property market will remain in sharp focus, with the Bank of England expected to raise interest rates again this week in an attempt to bring down the current rate of inflation.
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