House price growth at its slowest for five years, Halifax says

Sellers are realising first offer they receive could well be their only one, analyst says

Annual house price growth has fallen to its lowest rate in more than five years, according to Halifax.

Across the UK, house prices increased by 1.5% annually in October, following a 2.5% annual increase in September, Halifax said.

Related: Confidence in housing market ‘collapsing’, NAB survey says

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