Average house prices have decreased slightly in September, after reaching a record high the previous month. Across the UK, house prices fell back by 0.1% last month, according to Halifax’s index.
A typical UK property now costs £293,835, Halifax said. The mortgage provider added that figures from over the summer until now indicate that the housing market may have already entered a more sustained period of slower growth.
The annual rate of house price growth slowed to 9.9% in September from 11.4% in August – returning to single digits for the first time since January. Meanwhile, the number of mortgage products available fell sharply following the recent mini-budget and as product choice has gradually returned, lenders have been pricing their mortgage deals upwards.
