Overview

• The average UK property price reached £271,995 in September, according to Nationwide, reversing August’s dip with a 0.5% monthly gain.
• Northern Ireland led regional growth at 9.6% year on year, while England slowed to 1.6% and southern regions registered just 0.7% growth.
• Semi-detached homes posted the strongest annual rise at 3.4%, with detached and terraced up around 2.5%, and flats slipping 0.3%.
• Commentators noted average two- and five-year fixed mortgage rates near 5% after five Bank of England cuts, with inflation, gilt yields and the approaching Budget weighing on further easing.
• Nationwide’s chief economist said activity is likely to strengthen gradually if the broader economic recovery holds.