“Today’s house price data from the ONS show that UK house prices increased by 1.3% in the year to September 2019, unchanged from August. The average UK house price in September was £234,000.
“However, the divide between London and the rest of the country continues. Prices in the capital continued to weigh on national house price growth and fell by 0.4% year-on-year.
“Elsewhere in the country the picture is a bit brighter. Prices in the wider South East region increased by 0.7% in September, after falling in the previous month. Price growth was also relatively strong in Yorkshire and the Humber, the North West and North East, where prices all grew by over 2%.
“Uncertainty in the wider economy is likely to continue to impact on house price growth over the coming months. However, while this month’s release shows that the housing market remains weak, there may be signs of some improvement, as the rate of UK house price growth has remained fairly stable over the last few months, after declining relatively consistently since 2016.”
