House prices barely moved in October as some would-be buyers decided to put moves on hold while they waited to see what was in the budget.
The price of a typical UK home increased by 0.1 per cent last month, slower than in September and taking the average house to £265,738, according to data from the high street lender Nationwide.
Compared with this time 12 months ago, house prices are 2.4 per cent higher, a slowdown from the 3.2 per cent pace recorded in September.
Both measures of house price inflation were lower than economists’ forecasts. The expectation had been that month-on-month there would have been a 0.3 per cent rise in prices in October and the annual rise was estimated to come in at