House prices slip in September

Office for National Statistics (ONS) data shows that UK house prices fell 0.1% in the year to September, marking the first annual decline in 11 years. The average sale value, including cash buyers, fell to £291,385, with this down from £292,882 in August. The annual drop was steepest in Wales, where house prices in September were down 2.7%, while England saw prices dip 0.5%. Scotland, however, saw prices climb 2,5% year-on-year, while prices in Northern Ireland rose 2.1%. Prices in London fell by 1.1% over the year and 0.3% over the month, to an average of £537,000. In north-east England, the region with the lowest prices, there was a 1.6% annual rise, to £163,000. Separately, Halifax has found that Ealing has seen the strongest house price growth in the capital over the past year. The west London borough saw prices rise 7.5% to £531,137. The only other London boroughs to see growth over the past year were Westminster and the City, where they grew 7.4% to £767,350, Haringey (up 1.7% to £530,584), and Southwark (up 0.3% to £481,589).

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