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SMALL RISE IN HOUSE PRICES IN SEPTEMBER

House prices continued to "tread water" in September - rising by 0.1% compared with the previous month, the Nationwide said.

This left the average price of a home 0.3% lower than a year earlier, at £166,256, the building society said.

Prices for the three months to September compared with the previous quarter were unchanged.

Market turmoil as a result of the eurozone debt crisis had hit confidence among buyers, Nationwide said.

"Sentiment towards major purchases is depressed, as a result of weak labour market conditions and ongoing pressure on household budgets from above-target inflation," said Robert Gardner, Nationwide's chief economist.

 

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