UK annual house-price growth slows to 0.5% in October

October index

Nationwide’s monthly index was 547.8 in October, compared with 548.1 in September. The seasonally adjusted monthly change rounded to zero, and the annual rate was the slowest reported since January 2024.[1]

The unadjusted average price declined from £274,251 in September to £273,566 in October. The lender said activity and price growth had slowed amid economic uncertainty and higher market interest rates underpinning mortgage pricing.[1]

Nationwide’s outlook

Nationwide chief economist Robert Gardner said buyer enquiries and consumer sentiment pointed to further near-term softness. He also argued that employment, real incomes and household balance sheets could support a later recovery once the energy shock fades.[1]