Average UK house prices fell 0.3% in September, with the \u00a3794 decrease erasing gains in August and bringing the cost of a typical home to \u00a3298,184.<\/p>\n
Annually, prices grew 1.3% in September \u2013 the lowest annual rate since April 2024, according to the latest Halifax House Price Index.<\/p>\n
\u201cThis slight monthly dip in house prices reflects a housing market that has remained broadly stable, prices are up 0.3% since the start of the year,” said Amanda Bryden, head of mortgages at Halifax.<\/p>\n
\u201cWhile affordability remains a challenge, a relatively lower mortgage rate environment and steady wage growth have helped support buyer confidence.<\/p>\n
\u201cAlthough the broader economic outlook remains uncertain, with the affordability picture gradually improving, we continue to expect modest growth through the remainder of the year.\u201d<\/p>\n
Northern Ireland once again lead the fastest annual property price inflation, with average property values up 6.5% over the past year (down from 7.9% last month), the data showed. The typical home now costs \u00a3216,496, though prices remain well below the UK average.<\/p>\n
Meanwhile, Scotland recorded annual price growth of 4.5% in September to an average of \u00a3215,588. In Wales, property values rose 1.9% year-on-year to \u00a3227,845.<\/p>\n
In England, the North East, recorded the strongest annual growth with prices up 4.8% to \u00a3180,443, followed by the North West (3.9%).<\/p>\n
The South West saw a second consecutive price fall by 0.2% over the past year (previously 0.7%) with prices now \u00a3303,067.<\/p>\n
Prices are up only very slightly on the year in London (0.6%) and the South East (0.2%), <\/strong>with the capital remaining the most expensive part of the UK, with an average property value of \u00a3543,497.<\/p>\n \u201cAn [average] fall in house prices reflects the ongoing pressure on the housing market from higher borrowing costs, economic uncertainty, and affordability constraints,” said Nathan Emerson, CEO of Propertymark.<\/p>\n “While price declines may raise concerns among homeowners and sellers, they also present opportunities, particularly for first-time buyers who have struggled with stretched affordability in recent years.”<\/p>\n The latest report confirms a narrative set by the Nationwide House Price Index release last week<\/a>. The data then showed house price growth steadying even as concerns about borrowing costs and affordability continue to percolate.<\/p>\n In August, the Bank of England cut its key interest rate, guiding borrowing costs, to 4%, its lowest level in more than two years. The vote was narrowly backed by the Bank’s policymakers who took two votes to reach a decision.<\/p>\n Download the Yahoo Finance app, available for<\/strong> Apple<\/strong><\/a> and<\/strong> Android<\/strong><\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Average UK house prices fell 0.3% in September, with the \u00a3794 decrease erasing gains in August and bringing…\n","protected":false},"author":2,"featured_media":479845,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[26598,748,393,4884,1269,1144,712,16,15,1764],"class_list":{"0":"post-479844","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"category-united-kingdom","9":"tag-affordability","10":"tag-britain","11":"tag-england","12":"tag-great-britain","13":"tag-house-prices","14":"tag-northern-ireland","15":"tag-scotland","16":"tag-uk","17":"tag-united-kingdom","18":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115331589911480988","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/479844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=479844"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/479844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/479845"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=479844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=479844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=479844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}