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Prices fell in September

30 Sep 2014

According to the Latest Nationwide Building Society monthly figures, the UK average house price fell by 0.2% in September - the first fall after sixteen consecutive monthly rises

The release also stated that the annual change in the average house price moderated from 11% in August to 9.4% to September, but that on a quarterly basis (July, August and September combined) house prices are still rising

There still remains a huge difference between London/Southeast and the rest of the country - London houses are now 31% above their 2007 peak, whereas in the rest of the country they are just 2% above their peak (1% if London is excluded)

Nationwide also mentioned that estate agents and surveyors (see here) reported a moderation in demand, indicating that prices may soften further in the next few months

For the full release see here

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