UK House Prices See Fastest Growth in Nearly Two Years

Nationwide reports a 3.2% annual increase in September as mortgage rates and borrowing costs decline.

• The average UK house price in September was £266,094, a 0.7% increase from August.
• Terraced homes led the price surge, with a 3.5% annual increase, followed by semi-detached homes and flats.
• Rising incomes and lower borrowing costs have improved affordability for buyers.
• The Bank of England's interest rate cut in August contributed to the increase in buyer demand.
• Despite the growth, housing market activity and prices remain subdued compared to historical standards.

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