30
Sep
House prices rose slightly in September, says Nationwide
House prices saw little change during September, according to
the Nationwide building society.
Prices rose by just 0.1% last month, following a 0.8% decline in
August, Nationwide said, adding that "buyers appear to have a
slightly better hand than sellers at the moment".
The average house price now stands at just over £166,757,
up from £166,507 a month earlier.
Nationwide said September "proved to be an uneventful month for
house prices".
'Clear loosening'
The quarter-on-quarter rate of change - generally seen as a
smoother indicator of recent price trends - fell from 0% in August
to -0.9% in September.
"This represents the first negative reading for the three month
rate of change since May 2009 and is consistent with the clear
loosening of housing market conditions observed over the summer
months," said Martin Gahbauer, Nationwide's chief economist.
"Although the three month rate of change has turned negative, at
this stage it is not pointing to a significant pace of decline in
property values."
The annual rate of house price inflation fell from 3.9% in
August to 3.1% in September.
Source: http://www.bbc.co.uk/news/business