House prices slip again as energy price rises fuel inflation
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House prices in the UK have declined again, with the average price falling to £299,313 in April from £299,609 in March. The annual growth rate slowed to 0.4% from 0.8%. Higher energy prices and inflation are impacting the housing market, leading to increased mortgage rates. The Bank of England is expected to raise interest rates, potentially reaching 5.25%, as inflation is projected to exceed 6%. Despite these challenges, the housing market remains relatively stable, supported by wage growth outpacing house price inflation.
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