Halifax's most recent house price survey has revealed a 1.4% increase in prices during the month of September. The Nationwide's figure was lower but still confirmed an increase.
The general consensus is that even properties in the north of England and in Wales are starting to fall, meaning that the increases in interest rates are starting to bite.
Our View
September is notorious for price increases as it is generally the last major month for selling. After that, rain, mud, snow and slush tend to make houses look less desirable to buyers.
The rise in interest rates seems to have had the Government's desired effect. We just need to curb spending now!
One thought though - why was Halifax's index up and Nationwide's down? Strange that!