UK House Price Growth Rises In September

(RTTNews) - UK house prices increased at a faster pace in September, data from the Office for National Statistics showed on Wednesday.

Average house prices grew 2.9 percent on a yearly basis, faster than the 2.7 percent increase in August.

The ONS said annual inflation has been generally increasing since its low point of negative 2.7 percent in the twelve months to December 2023.

The average house price for England was 2.5 percent higher than a year earlier. In Wales, prices gained 0.4 percent and that in Scotland grew 5.7 percent.

The average house price for Northern Ireland was up 6.2 percent in the third quarter from a year earlier.

The North East was the English region with the highest house price inflation in September, at 6.5 percent. Annual house price inflation was the lowest in London, at a decrease of 0.5 percent.

Data also showed that private rents grew 8.7 percent on a yearly basis in October. This was up from 8.4 percent in September.