According to figures released by mortgage lender Nationwide, UK house prices grew two per cent year on year for September, unchanged from August’s increase.
House prices also grew 0.3 per cent from August to September to sell for an average of £214,922.
“Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low,” Nationwide economist Robert Gardner said.
“Overall, we continue to expect house prices to rise by around 1 per cent over the course of 2018.”
London house prices fell 0.7 per cent year-on-year to £468,544 for September and the third quarter, less steep a drop than the 1.9 per cent fall they experienced in the previous quarter, Nationwide added.