UK house price growth eases in SeptemberStaff Writer | September 30, 2016
UK house prices growth eased in September amid worries about the impact of Brexit on the market.
Britain The average price of a home was £206,015
Nationwide's chief economist Robert Gardner said despite the slowdown annualised house price growth remained within the narrow range of 3% to 6%.
Garndner said weak demand post-Brexit has been matched by a shortage of properties available for sale.
"Survey data indicates that, while new buyer enquiries have remained fairly subdued, the number of homes on the market has remained close to all-time lows, in part due to low rates of construction activity."
According to Nationwide's third quarter data, house prices jumped 5.4% year-on-year to £206,346 following a 5.1% increase in the previous quarter.
London continued to be the most expensive area to buy, with prices rising 7.1% in the third quarter to an average of £474,736, although slowing from a 9.9% jump in the second quarter.
The outer metropolitan was the second on the list of priciest areas with prices up 9.6% to £358,153. Prices grew 12.4% in the second quarter. ■