House prices stabilised in September, says Nationwide


Nationwide reports no change month-on-month but prices are still 5.3% down on the same period last year

House prices remained unchanged in September 2023, following a 0.8% decline in August, according to the latest figures from Nationwide.

Compared to September 2022, average UK house prices have fallen by 5.3%, approximately £14,500, with continuing inflation pressures and weak housing market activity resulting in 30% fewer monthly mortgage approvals compared to 2019.

However, Nationwide’s Chief Economist, Robert Gardner noted that underlying inflation pressures are easing, while longer-term interest rates, the foundation of fixed-rate mortgage pricing, have decreased.

Login or Register for free to continue reading Housing Today

To continue enjoying, REGISTER FOR FREE

Already registered? Login here

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Sign up below to receive:

  • Breaking industry news as it happens
  • Gain access to Housing Today’s Specialist CPD modules
  • Expert News and analysis

It takes less than one minute….

Join the Housing Today community - REGISTER TODAY

… or subscribe for full access - Subscribe now