UK house prices rise at slowest post-summer rate since 2008 crash

House prices rose by 0.5% in the month to early October, with a 0.8% drop recorded over the past year. Photograph: Anadolu Agency/Getty Images

UK house prices are rising at the slowest rate for this time of year since the 2008 financial crash, according to new data that highlights the impact on the housing market of higher interest rates.

The average new asking price rose by 0.5% in the month to 7 October to £368,231, but it was the smallest post-summer bump since the 2008 crisis, according to property website Rightmove.