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Financial News: UK House Price Inflation Slows In September

UK House Price Inflation Slows In September

11/16/2022 - 05:41:00 (RTTNews)

(RTTNews) - UK house prices grew at a slower pace in September, the Office for National Statistics reported Wednesday.

House prices increased 9.5 percent on a yearly basis in September compared with 13.1 percent rise in August.

The slowdown in house price growth reflects the sharp increase in September 2021, which coincided with changes to Stamp Duty Land Tax.

On a monthly basis, house prices remained flat in September.

The continuous increase in house prices took the average cost to a joint record high. Average house prices totaled GBP 295,000, which was GBP 26,000 higher than this time last year.

London's average house prices remained the most expensive of any region in the UK, with an average price of GBP 544,000 in September, the ONS said.

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