Annual house price growth 'slows'

The annual rate of house price growth slowed in September to 9.4% from 11% the month before, the Nationwide says.

On a monthly basis, prices were down by 0.2% - the first time that figure has fallen since April 2013. It said strong regional variations remained, with London and the South continuing to lead the market.

Prices in London are 31% above those reached at the last peak of the market in 2007. Elsewhere, prices are just 1% above pre-crisis levels, with average house prices across the UK shown to have fallen to £188,374. The average price of a house in London is £401,072.

The data comes in the week that the Bank of England will announce whether to implement new measures to control house prices - and whether to change the rules for the government's Help to Buy programme.

Even though the monthly figures show house prices falling, they still rose by 1.5% over the quarter.