- The price of a typical UK house fell by 0.4% in September
- Prices 1.4% lower than one year ago
- Price of a typical home is now £163,964
* Seasonally adjusted figure (Note that monthly % changes are revised when seasonal adjustment factors are re-estimated)
Commenting on the figures Robert Gardner, Nationwide's Chief Economist said:
"UK house prices declined by 0.4% in September, after recording a 1.1% rise in August. Monthly price changes have been impacted by a number of one-off factors this year, such as the ending of the stamp duty land tax holiday that cannot be controlled by the usual process of seasonal adjustment.
For this reason the annual rate of house price change is a better guide to the state of the market at present. On that basis, the housing market remains fairly stable, with prices 1.4% lower than September 2011.
Looking forward, policy measures such as the Bank of England's Funding for Lending Scheme should provide support for activity in the housing market by ensuring the availability of credit and lowering its costs."
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