UK house prices in September grew by only 0.8% year on year, the slowest rate since December last year and half the 1.6% increase seen in August, while falling short of economists' expectations of a 1.3% rise. Nationwide Building Society reported today that on a monthly basis, house prices fell 0.2% in September, the fastest decline since May and below analysts' expectations of a flat 0%. Nationwide's chief economist said activity in the market and house prices have remained subdued in recent months, partly reflecting an economic backdrop that remains uncertain, with higher borrowing costs due to the conflict in Iran weighing on demand.
Nationwide Building SocietyNationwide reported UK house price growth slowed to 0.8% y/y in September, with monthly prices falling 0.2% as higher borrowing costs weighed on housing demand.
