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UK house prices grow at slowest pace in two years as mortgage rates rise

Average price for property stands at £273,566 in October, flat on previous month, says Nationwide

UK house prices grew by an annual rate of just 0.5% in October, the slowest pace in more than two years, as higher mortgage rates put off potential buyers.

The average price for a property in the UK stood at £273,566 in October, flat on the previous month and down from 0.8% in the year to September, according to the lender Nationwide.

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© Photograph: scenicireland.com/Christopher Hill Photographic/Alamy

© Photograph: scenicireland.com/Christopher Hill Photographic/Alamy

© Photograph: scenicireland.com/Christopher Hill Photographic/Alamy

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UK side-hustle tax-free allowance to rise to £3,000 next year

Up to 1.4 million people could benefit from change to trading allowance announced in budget, with some saving hundreds in tax

The amount Britons can earn from a side hustle without paying tax will rise to £3,000 next year in a fillip for those who make extra cash from hobbies or reselling.

Up to 1.4 million people could benefit from the change announced in the budget, with the chancellor confirming the tax-free “trading” allowance will increase from £1,000 to £3,000 in April 2027.

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© Photograph: Photononstop/Alamy

© Photograph: Photononstop/Alamy

© Photograph: Photononstop/Alamy

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