UK House Price Growth Slows Amid Energy Crisis and Rate Hike Fears

UK house prices grew by just 0.8% in the year to September, their weakest pace in nine months.

The average UK home price rose to £274,251, according to Nationwide Building Society.

This slow growth is attributed to a combination of economic uncertainty, rising energy prices, and increased expectations of Bank of England rate hikes.

Energy costs have been pushed higher by the Middle East conflict, fanning concerns that UK inflation could stay elevated for longer.