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"UK house price growth saw a month-on-month decline in October, according to new figures from Nationwide Building Society. Experts suggest that Budget uncertainty and a cooling jobs market are significantly dampening buyer confidence. The lender reported that growth fell to 0.3 per cent in October, down from 0.5 per cent in September. Annually, property values increased by 2.4 per cent, a slight rise from September's 2.2 per cent year-on-year growth, bringing the average UK house price to 272,226."
UK house price growth fell month-on-month in October to 0.3%, down from 0.5% in September, according to Nationwide Building Society. Annual growth was 2.4%, slightly higher than September's 2.2%, bringing the average UK house price to £272,226. Nationwide described the market as remaining 'broadly stable'. Experts said Budget uncertainty, speculation over potential property tax changes, broader economic concerns, and a weakening labour market are dampening buyer confidence and prompting a wait-and-see approach. The Independent relies on reader donations to fund on-the-ground journalism and maintains free access to reporting without paywalls.
Read at www.independent.co.uk
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