# UK house prices rise 0.7% in September, Nationwide says
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-09-30
Category: Finance
Category URL: https://startupobserver.com/category/finance/
Meta Title: British House Prices Up 0.7% in September
Meta Description: Discover how British house prices saw a higher-than-expected increase in September, with annual growth at 3.2%. Learn more about market trends here.
URL: https://startupobserver.com/uk-house-prices-rise-0-7-in-september-nationwide-says/

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LONDON (Reuters) -British house prices rose by a higher-than-expected 0.7% in September from August, with the annual growth rate hitting 3.2%, the fastest pace since November 2022, figures from Nationwide Building Society showed on Monday.

Economists polled by Reuters had forecast prices would rise by 0.2% on a monthly basis and stand 2.7% higher than in September 2023.

Robert Gardner, Nationwide’s chief economist, said prices had risen after borrowing costs edged lower on expectations that the Bank of England would continue to cut interest rates in the coming quarters.

“These trends have helped to improve affordability for prospective buyers and underpinned a modest increase in activity and house prices, though both remain subdued by historic standards,” he said.

(Reporting by Kate Holton; editing by Sarah Young)


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