October 2019 House Price Update
UK Housing Price and Market Update for October 2019
Average Price Paid
Annual price growth remained below 1% for the eleventh consecutive month.
With +0.4% annual price change, prices rose £800 over the past 12 months.
Weak global growth and intensifying European political uncertainty have slowed housing market pace.
Number of mortgages approved has remained stable over the past couple of years.
Softening in the labour market and wage growth in the three months to August could arouse concern if the trend continues due to its importance in supporting the property market over recent years.
Source of UK Property Price Data ‘Annual Change’, ‘Quarterly Change’, ‘Monthly Change’, ‘Average Price’ and ‘Average Mortgage Rates’ - Nationwide House Price Index.
Please note that the use of the above information and commentary is subject to both the Nationwide Legal Terms (https://www.nationwide.co.uk/about/house-price-index/headlines) and also where applicable, the Terms and Conditions found on our website www.resonateproperty.co.uk.