UK House Price Growth Halves to 0.8% in September

UK house prices slowed sharply, up just 0.8% in the year to September to £274,251, Nationwide said, down from 1.6% in August and 0.2% lower than last month on a seasonally adjusted basis. Chief economist Robert Gardner points to expected Bank rate rises and Middle East tensions lifting energy costs. Borrowing costs look like the main brake.