By Lars Mucklejohn The UK’s housing stock has seen its first annual decline in value since 2012 after some £27bn was wiped off last year, according to new analysis, amid higher mortgage costs and pressure on household finances. Figures from property firm Savills showed that despite the fall, the value of housing remained £1.585tn higher than 2019, before the Covid-19 pandemic hit. The overall value of homes across the UK came in at £8.678tn in 2023. Lucian Cook, head of residential research at Savills, said: “Despite higher mortgage costs, the market’s resilience means UK housing continues to …