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ONS data shows biggest drop in London and reflects impact of high interest rates on property market

Economists had expected figure measured by Halifax to rise again

Cost of a typical home rose at its fastest rate of annual growth since November 2022

Stubbornly high borrowing costs continue to stall property market, analysts warn

Mortgage provider attributes slight rise to scarcity of supply

Average price now just 2% below all-time high of mid-2022

Average price is at its highest since October 2022

Lender’s data adds to signs of stabilisation in property market as mortgage rates ease

Supply shortage pushes property valuations to highest level since March last year