Halifax has reported that house prices in September were 1.1% higher than in the same month a year earlier.
However, on a monthly basis, house prices fell by 0.4%.
In the latest quarter (July to September) house prices were 0.4% higher than in the preceding three months (April to June).
Russell Galley, managing director at Halifax, said: “Annual house price growth slowed somewhat in September, rising by just 1.1% over the last year. Whilst this is lowest level of growth since April 2013, it remains in keeping with the predominantly flat trend we’ve seen in recent months.
“Underlying market indicators, including completed sales and mortgages approvals, continue to be broadly stable. Meanwhile for buyers, important affordability measures – such as wage growth and interest rates – still look favourable.
“Looking ahead, we expect activity levels and price growth to remain subdued while the current period of economic uncertainty persists.”
Andrew Montlake, managing director of Coreco, added: “As we approach Halloween and the Brexit endgame it’s no surprise price growth is slowing, but the horror show many predicted hasn’t played out.
“Extremely low borrowing costs continue to make property affordable while the strength of the jobs market is giving people confidence amid the chaos.
“Transaction levels are lower than they have been but there is still activity as people take advantage of the buyers’ market and lock into ultra-competitive fixed rates for peace of mind.
“Given that we’re at the biggest political juncture for generations, the market is performing far better than expected.”
