Further price growth in September |
Nationwide's figures for September showed that house prices rose by 1.3%, bringing the annual rate to 8.2%. It would appear that August's interest rate hike has not affected demand for property, with strong demand from landlords helping to support the market.
At the end of September, the average property price stood at £169,413.
Commenting on the figures Fionnuala Earley, Nationwide's Group Economist, said: “Just like the weather, the housing market was unseasonably warm in September as August’s interest rate hike did nothing to cool the rate of house price inflation.".