Nationwide: UK annual house price growth halves to 0.8% in September
Nationwide said UK house prices fell 0.2% in September, taking annual growth to 0.8% from 1.6%. It pointed to Middle East-driven energy and mortgage cost pressures.
Updated (version 2). New coverage since the last version from City A.M., The Guardian.
1 / 4
The story, neutrally told
Nationwide Building Society said annual UK house price growth halved to 0.8% in September from 1.6% in August. Evening StandardN “The annual rate of growth in UK house prices halved to 0.8% in September, from 1.6% in August” Read at Evening Standard ↗ City A.M.RC “half the 1.6 per cent year-on-year rise recorded in August” Read at City A.M. ↗ The average price fell 0.2% month on month, after a 0.2% rise in August, to £274,251. Evening StandardN “The average property value fell by 0.2% month on month in September, following a 0.2% increase in August” Read at Evening Standard ↗ The GuardianLC “House prices across the UK fell 0.2% month on month, after taking account of seasonal effects.” Read at The Guardian ↗ Chief economist Robert Gardner called 0.8% the weakest annual rate since December 2025. Evening StandardN “the weakest rate of growth since December 2025” Read at Evening Standard ↗
Anadolu Agency said economists had expected prices to stay unchanged, and that this was the fourth monthly fall in five months and the largest since May's 0.6% drop. Anadolu AgencyN “Economists had expected prices to remain unchanged.”“The decline was the fourth in five months” Read at Anadolu Agency ↗ Gardner said the Middle East conflict is pushing up energy prices and inflation concerns, raising expectations of Bank of England rate rises and keeping mortgage-underlying market rates high. Evening StandardN “mounting financial market expectations of (Bank of England base rate) increases” Read at Evening Standard ↗ City A.M.RC “Higher energy prices have fuelled inflation concerns and expectations that interest rates could rise” Read at City A.M. ↗ The Guardian cited Moneyfacts as saying average two-year and five-year fixed mortgage rates were both above 5.9%, at their highest since July 2024 and October 2023 respectively. The GuardianLC “Both were sitting above 5.9%.” Read at The Guardian ↗
Gardner said affordability is improving because house price growth has been well below earnings growth, only partly offset by higher mortgage rates. The GuardianLC “These gains have been only partially offset by higher mortgage rates.” Read at The Guardian ↗ City A.M.RC “wages continued to rise faster than house prices” Read at City A.M. ↗ He said activity should regain momentum if the energy shock fades and confidence returns, especially if market rates fall back to pre-conflict levels. Evening StandardN “especially if market interest rates fall back to pre-conflict levels” Read at Evening Standard ↗ City A.M. added that buyers were cautious ahead of Chancellor John Healey's first Budget on 28 October, and reported a regional split: Northern Ireland up 5.9% year on year, southern England down 0.1%. City A.M.RC “ahead of John Healey’s first Budget on 28 October”“Southern England went in the opposite direction, with prices falling 0.1 per cent overall.” Read at City A.M. ↗
Every sentence links to the reporting it rests on.
Left1 outlet
- Framing
- The Guardian leads on the halving of annual growth, tying it to the US-Israel war with Iran and higher mortgage rates.
- Emphasis
- Geopolitical cause, Moneyfacts mortgage rate highs, affordability benefit for some buyers.
- Leaves out or plays down
- Does not mention the Budget or economists' expectations.
- Charged language
- “biggest hit”
- For example
-
“economic uncertainty sparked by conflict in the Middle East continued to deter homebuyers” — The Guardian
Centre2 outlets
- Framing
- The Evening Standard reports Nationwide's figures and Gardner's quotes; Anadolu stresses the monthly fall as the sharpest since May amid rising borrowing costs.
- Emphasis
- Standard: annual rate and Gardner. Anadolu: monthly decline against forecasts, mortgage rates near 6%, energy bills.
- Leaves out or plays down
- The Standard omits forecasts and regional detail; Anadolu does not give the 0.8% annual rate.
- Charged language
- “sharpest fall”
- For example
-
“UK house prices recorded their sharpest monthly decline since May in September” — Anadolu Agency
“fanning inflation concerns” — Evening Standard
Right1 outlet
- Framing
- City A.M. frames it as a sluggish market weighed by mortgage costs and Budget uncertainty.
- Emphasis
- Autumn Budget, Your First Home scheme, HMRC sales data, regional and property-type splits.
- Leaves out or plays down
- Does not name the Iran war or cite mortgage rate levels.
- Charged language
- “sluggish property market”
- For example
-
“expensive mortgages and uncertainty ahead of the Autumn Budget fuelled caution among buyers” — City A.M.
What every side reports
- Annual growth halved to 0.8% from 1.6%.
- Prices fell 0.2% month on month to an average £274,251.
- Nationwide links the slowdown to Middle East-driven energy costs, inflation fears and higher mortgage rates.
- Gardner says affordability is improving as earnings outpace house prices.
-
UK annual house price growth halved to 0.8% in September from 1.6% in August.
Reported- Reports 3
- The Guardian, Evening Standard, City A.M.
-
The Middle East conflict is raising energy prices and inflation concerns, pushing up mortgage rates and weighing on the housing market.
Supported- Supports 2
- The Guardian, Anadolu Agency
- Reports 2
- Evening Standard, City A.M.
Nationwide organisation
Nationwide says activity is subdued on an uncertain backdrop but affordability is improving and activity could recover if the energy shock fades.
“Market activity and house prices have remained subdued in recent months, in part reflecting the uncertain economic backdrop.” — Evening Standard
“encouraging signs” — City A.M.
Left1 article
-
UK house price growth halves amid rising mortgage interest rates
Neutral Explains the slowdown through the Iran war, energy costs and mortgage rates, with a note on affordability.
Centre2 articles
-
Annual rate of UK house price growth halved in September, says Nationwide
Neutral Straight report of the Nationwide release, led by the halving of annual growth and the geopolitical explanation.
-
UK house prices post sharpest fall since May as borrowing costs rise
Mixed Emphasises the monthly fall as the sharpest since May and ties it to rising borrowing costs and household budget pressure.
Right1 article
-
UK house prices fall at fastest rate since May as mortgage rates weigh on demand
Neutral Market report linking weak prices to mortgage costs and Budget uncertainty, with regional detail.
- 1 Oct 07:17 First Evening StandardN Annual rate of UK house price growth halved in September, says Nationwide
- 1 Oct 07:39 +23m Anadolu AgencyN UK house prices post sharpest fall since May as borrowing costs rise
- 1 Oct 07:47 +30m City A.M.RC UK house prices fall at fastest rate since May as mortgage rates weigh on demand
- 1 Oct 07:59 +42m The GuardianLC UK house price growth halves amid rising mortgage interest rates
Times are when each article was published, or when we first saw it if the outlet gave no time.