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UK prices rose by 0.2% in October on-month to an average of £215,368, according to Nationwide Building Society.
On an annual basis, house prices rose 0.4% in October.
Chief economist Robert Gardner said the growth rate had slowed significantly in recent years.
'Indicators of UK economic activity have been fairly volatile in recent quarters, but the underlying pace of growth appears to have slowed as a result of weaker global growth and an intensifying of Brexit uncertainty,' Gardner said.
'To date, the slowdown has centred on business investment, while household spending has been more resilient.'