House price growth slows in September

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House prices grew by 0.3 per cent in September, down from 0.4 per cent growth in the month before. That's according to new Halifax House Prices data, which analysts had expected to show 0.4 per cent growth this month.

Prices are currently down 14.5 per cent from their peak level seen in August 2010, with several data releases and surveys pointing towards increasing housing activity and firming prices.

In the last three months house prices were up by 6.2 per cent on the same three months last year. That's lower than the 6.4 per cent economists had forecast for the period.

Howard Archer, chief UK and European economist at IHS Global Insight, said that the strengthening is a "relatively modest month-on-month rise" which "may slightly ease concerns over an emerging house price bubble".