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The Guardian - UK

Business

Jasper Jolly

UK house price growth slows as buyers ‘sit on sidelines’ before budget

Nationwide Robert Gardner

Houses in Cumbria — On an annual basis, house price growth rose slightly, to 2.4% in October compared with 12 months ago. Photograph: Nicky Beeson/Alamy

British house price growth slowed in October, according to lending data, with analysts suggesting that buyers are “sitting on the sidelines” before a budget that may bring new property taxes.

The average house price rose by 0.3% month on month in October, Nationwide said, down from 0.5% in September. The average price of a home was £272,226, up from £271,995 in September.

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