The latest Halifax House Price Index reveals house price growth has reached just over 1%.
Compared to August, house prices across the country fell by 0.4%, while the annual figure showed growth had dropped to 1.1% – falling 0.7% compared to last month’s results.
Russell Galley, Managing Director, Halifax, said: “Annual house price growth slowed somewhat in September, rising by just 1.1% over the last year. Whilst this is [the] lowest level of growth since April 2013, it remains in keeping with the predominantly flat trend we’ve seen in recent months.
“Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile, for buyers, important affordability measures – such as wage growth and interest rates – still look favourable.
“Looking ahead, we expect activity levels and price growth to remain subdued while the current period of economic uncertainty persists.”