Sunday, December 22, 2024

House price growth slows as buyers wait for budget

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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

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