British house price growth runs out of steam in October: Nationwide

[LONDON] British house prices were unchanged in October after rising in monthly terms each of the previous 15 months, mortgage lender Nationwide said, adding to signs of a cooling in the housing market after the Brexit vote in June.

House prices were flat last month, compared with a monthly increase of 0.3 per cent in September and a median forecast for a rise of 0.2 per cent in a Reuters poll of economists.

Compared with October last year, prices rose by 4.6 per cent, slower than September's increase of 5.3 per cent and below a median forecast of 5.0 per cent in the Reuters poll. It was the slowest annual price growth since January.

REUTERS