House prices are growing at their slowest annual rate in five years, according to the Halifax bank.
Annual house price growth slowed to 1.5% in the three months to October, the lowest rate it has reported since March 2013, from 2.5% in the three months to September, although this was a slightly smaller drop than economists had expected.
Prices rose by 0.7% on the month in October after a 1.3% decline in September. The average price of a house in Britain is £227,869, about five-and-a-half times average earnings and well above the long-term average of four times earnings.
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