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The Independent UK
The Independent UK
National

Property price growth stalls in UK causing alarm for homeowners

  • The average UK house price reached £272,000 in September, with annual growth decelerating to 2.6 per cent from 3.1 per cent in August.
  • England's average price stood at £293,000 (2.0 per cent annual increase), Wales at £209,000 (2.7 per cent increase), and Scotland at £194,000 (5.3 per cent rise).
  • Northern Ireland recorded the highest annual surge at 7.1 per cent, with an average house price of £193,000 in the third quarter.
  • Within England, London saw an annual fall of 1.8 per cent in house prices, while Yorkshire and the Humber registered the highest regional inflation at 4.5 per cent.
  • The average UK private rent increased by 5.0 per cent to £1,360 per month in October, as Consumer Prices Index (CPI) inflation slowed to 3.6 per cent, potentially leading to a Bank of England base rate cut.

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