Nationwide reports the weakest annual growth since December 2025, with an average price of £274,251 and a clear gap between the north and south of the country.
According to Nationwide, UK annual house price growth halved to 0.8% in September, from 1.6% in August, the weakest rate since December 2025. Prices fell 0.2% on the month after seasonal adjustment, and the average price (not seasonally adjusted) was £274,251, against £275,465 in August.
Nationwide's chief economist Robert Gardner linked the subdued market to an uncertain economic backdrop: geopolitical tensions are pushing up energy prices and inflation concerns, which has raised expectations of Bank Rate increases and kept market interest rates, and so mortgage pricing, higher. He added that affordability is improving underneath, since house prices have grown well below earnings for some time, and that activity should regain momentum if the energy shock fades and market rates fall back.
The regional picture is uneven. In the third quarter, Northern Ireland was the strongest region with prices up 5.9% on the year (average £227,922), followed by the North West (3.9%) and Scotland (3.3%). London was up 0.4% with an average of £529,720, while East Anglia was weakest with a 0.7% annual fall. Eight of the thirteen regions saw annual growth below 1%. Terraced homes were the strongest property type (up 1.8%) and flats the weakest, essentially unchanged on a year ago. This is index data, not a price forecast.