House prices haven’t fallen to a 14-year low

7 September 2023
What was claimed

House prices fell last month to 14-year lows.

Our verdict

This isn’t correct. According to Halifax house prices fell by an average 4.6% in the year to August 2023. This was the biggest annual fall since 2009, but actual average house prices remain far higher than they were 14 years ago.

A post shared by the Daily Telegraph on X (formerly known as Twitter) claimed that “house prices fell last month to fresh 14-year lows”.

As pointed out by The i’s housing correspondent, this isn’t correct, and the post has since been deleted.

The annual fall in house prices in August was the largest for 14 years—but house prices themselves are still much higher than they were 14 years ago. 

The post linked to the Telegraph’s markets liveblog, which reported on new house price figures published by Halifax bank.

According to Halifax, house prices fell by an average 4.6% in the year to August—the biggest annual decrease since 2009.

This isn’t the same as saying that house prices were at their lowest in 14 years.

According to Halifax the average house price in August was £279,569—about 73% higher than the average price of £160,973 reported by the bank in August 2009.

If a social media post is inaccurate or doesn’t reflect the body of the article, it is possible that people will be misled. Newspapers should ensure that social media posts are accurate and support the article they link to. We’ve contacted the Daily Telegraph for comment.

Image courtesy of nattanan23

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