Average UK house sale price suffers first annual fall for 11 years

Prices in London fell by 1.1% over the year and 0.3% over the month, to an average of £537,000 Photograph: Alex Treadway/Getty Images/Collection Mix: Subjects RF

The average price of a home in the UK dropped by 0.1% in the year to September, official figures show – the first annual fall for more than a decade.

The Office for National Statistics (ONS) figures, which are based on completed sales, have shown annual price inflation slowing since July 2022, when the headline rate stood at 13.8%.