House price growth slows to 5.3% in September

Annual house price growth slowed in September to 5.3 per cent from 5.6 per cent in August, the latest figures from Nationwide Building Society show.

Since early 2015, house price growth has remained within a narrow range of 3 and 6 per cent.

Prices increased by 0.3 per cent between August and September to an average of just over £206,000.

Regional price trends were also little changed. Regions in the south east of England continued to record the strongest gains even though price growth slowed noticeably in the Outer Metropolitan region (from 12.4 per cent in Q2 to 9.6 per cent in Q3) and in London (from 9.9 per cent in Q2 to 7.1 per cent in Q3).

House price growth remained subdued in Scotland (2 per cent) and Northern Ireland (2.4 per cent) and small price declines were recorded in Wales (-0.5 per cent) and the North of England (-0.2 per cent), all relative to Q3 last year.

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