Business · Economy · 2 hrs ago
UK house price growth slows to weakest since 2024
UK house price growth has slowed to its weakest pace since 2024.
The change concerns the rate at which prices are rising, not necessarily a fall in prices.
The headline gives no figures or location details within the UK.
It does not explain what caused the slowdown.
Slower house price growth can matter to people buying or selling homes, but no specific effects are given.
No next steps or outlook are stated.
UK house price growth slowed to 0.5% in October, its weakest annual pace since January 2024, according to Nationwide Building Society.
The annual growth rate was down from 0.8% in September.
Prices were unchanged month on month, and the average UK property cost £273,566.
Nationwide’s chief economist said higher mortgage costs and economic uncertainty were weighing on the market.
- Who
- Nationwide Building Society reported the figures.
- What
- UK house price growth slowed to 0.5% annually in October. Prices were unchanged from September.
- When
- October 2026.
- Where
- The UK.
- Why
- The article attributes the slowdown in part to borrower caution amid rising mortgage costs and economic uncertainty.
This story does not have two clearly opposing sides.
Annual house price growth was 0.8%, and prices fell by a downwardly revised 0.3% month on month.
Annual growth slowed to 0.5%, while prices were unchanged month on month.
- Annual growth in October
- 0.5%
- Annual growth in September
- 0.8%
- Average UK property price in October
- £273,566
- Monthly price change in October
- Unchanged
3 sources
What people are saying
Market activity and house price growth have slowed in recent months, in part reflecting the uncertain economic backdrop.
Once the energy shock fades, there are good reasons to believe the market will regain momentum.
Nationwide-measured house prices holding unchanged in October is a decent result in our view, given the context of high energy prices and expectations of multiple hikes from the Monetary Policy Committee.
But September’s data were revised down, and the latest surge in oil and gas prices will take time to feed into activity, so a drop in prices in November is a good bet.