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| Annual house price growth slows to 9.4%, Nationwide says | Annual house price growth slows to 9.4%, Nationwide says |
| (35 minutes later) | |
| The annual rate of house price growth slowed in September to 9.4% from 11% the month before, the Nationwide says. | The annual rate of house price growth slowed in September to 9.4% from 11% the month before, the Nationwide says. |
| The slowdown came after prices between August and September fell 0.2%. Monthly prices had risen for 16 months. | |
| It said strong regional variations remained, with the South East of England again the fastest growing area. | It said strong regional variations remained, with the South East of England again the fastest growing area. |
| Prices in London are 31% above those reached at the last peak of the market in 2007, elsewhere, prices are just 1% above pre-crisis levels. | |
| Nationwide points out that, according to its data, the average London property price is £401,072. | |
| Robert Gardner, the Nationwide's chief economist, said: "While September saw a slowing in house price growth, the picture on a quarterly basis (July, August and September combined) was still relatively strong, with all thirteen UK regions recording annual price gains." | |
| Mr Gardner said that prices were expected to continue rising in the final months of the year, but this could be at a slower rate. | |
| He said: "The outlook remains uncertain. There have been tentative signs from surveyors and estate agents that buyer demand may be starting to moderate, but the low level of interest rates and strong labour market suggest that underlying demand is likely to remain robust." |