The British housing market appeared to shrug off the turmoil in the credit markets during September, with prices rising by 0.7% during the month, figures showed today.
The jump in prices was the highest monthly rise since April this year and helped push average UK property prices up to £184,723, Nationwide Building Society said.
But despite the relatively strong monthly gain, annual house price growth continued its downward trend, falling to 9%, its lowest level for nearly a year and down from 9.6% in July.
The three month growth rate, which is often seen as a better indicator of the underlying trend in the housing market, also eased to stand at just 1.6% for the three months to the end of September, the smallest gain since July 2006.
