UK Annual House Price Growth Halved to 0.8% in September

UK house prices rose 0.8% in the year to September to £274,251, half August's 1.6%, Nationwide reported, with prices down 0.2% month-on-month after seasonal adjustment. Chief economist Robert Gardner blamed expectations of Bank of England rate rises and Middle East conflict pressuring energy prices. I see borrowing costs, not supply, driving the slowdown.