UK house prices growth eases back to 10 per cent with London slowing the most
Annual house price growth eased back to 10 per cent in September, from 11 per cent in August, according to Nationwide Building Society this morning.
Prices increased by just 0.1 per cent month-on-month, taking the average UK house price to £248,742.
Wales and Northern Ireland were the strongest performing parts of the UK in the third quarter of 2021 while London was the weakest, Nationwide said.
Commenting on the figures, Nationwide’s chief economist, Robert Gardner, said this morning: “Annual house price growth remained in double digits for the fifth month in a row in September, though there was a modest slowdown.”
“House prices rose by 0.1 per cent month-on-month, after taking account of seasonal effects. As a result, house prices remain around 13 per cent higher than before the pandemic began in early 2020,” he added.