House Price Growth At A Standstill In October

House price growth came to a standstill in October, suggesting the housing market may have gone off the boil, and fuelling concerns that developers may be less willing to build much-needed homes. The latest figures from Nationwide, the UK’s largest building society, showed that after 15 successive months of increase, prices did not move during the month, once seasonal factors were taken into account.  Without seasonal adjustments, the average price of a UK home dropped by £111 to £205,904. The annual rate of price growth dropped to 4.6% – its lowest level since January.  Read more on the Guardian website.

UK House Prices at a Standstill

The average UK house price stood still during November, while £3,000 was lopped off the cost of a typical property in London. The data from the Office for National Statistics provides fresh evidence that the housing market is cooling, though the annual rate of property price growth is still in double-figures: the figure for the UK slipped back to 10% in November, from 10.4% in October and 12.1% in September. At £271,000, November’s average UK house price was unchanged on October, and compares with a high of £274,000 in August 2014. However, the ONS said the average price in London had fallen slightly: from £504,000 in October to £501,000 the following month. Read more on the ONS website.