The Independent deploys reporters to cover topics from reproductive rights to climate change and Big Tech, funding journalism through donations while avoiding paywalls. The outlet investigates financial and political stories and produces documentaries such as 'The A Word' on American women fighting for reproductive rights. UK house prices dipped 0.1% month-on-month in August after a 0.5% rise in July, with annual growth weakening to 2.1% and the average price at 271,079. Nationwide's chief economist said affordability remains stretched, mortgage costs are far higher than pandemic levels, and serving a mortgage is a barrier for many buyers.
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The relatively subdued pace of house price growth is perhaps understandable, given that affordability remains stretched relative to long-term norms. House prices are still high compared to household incomes, making raising a deposit challenging for prospective buyers, especially given the intense cost-of-living pressures in recent years. He added: Combined with the fact that mortgage costs are more than three times the levels prevailing in the wake of the pandemic, this means that the cost of servicing a mortgage is also a barrier for many.
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