Economic Buzz: UK nationwide house price growth rises

UK house prices growth accelerated in September amid easing borrowing costs, data from the mortgage lender Nationwide Building Society showed Wednesday.

House prices logged an annual growth of 2.2 percent in September, slightly faster than the prior month's 2.1 percent rise.

On a monthly basis, house prices rebounded 0.5 percent after a 0.1 percent drop in August. This was also faster than economists' forecast of 0.2 percent.

The Bank of England had reduced its key rate five times since August 2024. The current 4.00 percent bank rate is the lowest since early 2023.

Data showed that house prices climbed 0.4 percent in the third quarter from the preceding quarter. Compared to the last year, house prices increased 2.3 percent.

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