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Growth in UK house prices slowed to single digits in September, according to the latest figures from Nationwide on Friday.
On an annual basis, prices grew by 9.5% in September. This undershot consensus, cited by FXStreet, which had growth to remain at its August level of 10%.
Month-on-month, prices were flat in September. In August, they had edged up 0.7% from July.
Consensus had forecast monthly growth of 0.3%.
‘This is the first month not to record a sequential rise since July 2021,’ noted Robert Gardner, Nationwide's chief economist.
The average price - not adjusted for seasons - was £272,259 in September, coming in lower than £273,751 in August.
The South West remained the best performing region, while London saw the worst growth.
Nationwide cited the cut in stamp duty and the UK's strong labour market as potential growth factors for the industry.
‘However, headwinds are growing stronger suggesting the market will slow further in the months ahead. High inflation is exerting significant pressure on household budgets with consumer confidence declining to all-time lows,’ Gardner warned.
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