Data from Nationwide for September revealed an unexpected decline in the average house price by 0.2% from August. There had been an expectation of the final summer boost due to homebuyers seeking to close up their property purchases before the Brexit deadline of 31 October drew nearer. The average house price is now £215,352, down from £216,096 reported by Nationwide in August.

A poll by economists conducted by Reuters resulted in a forecast for slight growth of 0.1% for September.

The annual comparison from September of last year offered a 0.2% increase.

There are very attractive factors at play currently to keep hopeful home buyers interested in the housing market, but some may be building caution as the uncertainty of Brexit dominates the headlines.

Home buyers could find a historically low interest rate from some lenders. There are very creative deals available, including 100% mortgages with no deposit. Fixed rate mortgages are being offered at longer terms than seen in the recent past with ten, twenty, and thirty year terms available. There are also lower asking prices being seen in the housing market which makes it cheaper for home buyers to get onto the property ladder.

The London housing market experienced the largest decline in house prices and Northern Ireland reported the largest increase.

There has been expectation of an overhaul to the stamp duty tiers which could possibly bring more home buyers to the market in the weeks to come. This could especially be true if the higher costing homes received a cut in costs of the stamp duty as this could put more properties into the focus of buyers and investors.