House price growth stalls

HOUSE price growth stalled between August and September, although the average property value was still £26,000 higher than a year earlier, according to official figures.

Across the UK, the average house price in September was £295,000, which was £26,000 higher than a year earlier, the Office for National Statistics (ONS) said.

Average house prices increased by 9.5% over the year to September 2022, slowing from 13.1% annual growth in August 2022.

Across the UK, typical property values remained unchanged between August and September 2022.

In England, house prices increased by 9.6% annually, slowing from 13.7% annual growth in August. The average house price in England also sat at a record level of £314,000 in September.