House prices up 5% to £226,129

Data from Nationwide reveals that UK house prices were up 5% in September compared with a year ago. This marks the biggest rate of annual growth in four years. Month-on-month, prices in September were up 0.9% on August, while quarter-on-quarter, July through September saw prices climb 1.7% compared to the previous three months. The figures show that the average house price hit £226,129 in September. In London, prices were up 4.4% in Q3, with the average price in the capital hitting a record high of £480,857. Robert Gardner, Nationwide's chief economist, said the rebound in prices “reflects a number of factors,” adding: “Pent-up demand is coming through, with decisions taken to move before lockdown now progressing.”

The Daily Telegraph (30/09/2020)   Financial Times (30/09/2020)   City AM (30/09/2020)