House prices increased by 1.3 per cent in September, bringing the annual rate to 8.2 per cent, according to Nationwide.
It says strong demand from landlords has helped support the market
Nationwide group economist Fionnuala Earley says: “Just like the weather, the housing market was unseasonably warm in September as August’s interest rate hike did nothing to cool the rate of house price inflation.
“A weak patch this time last year, when prices fell by 0.2 per cent, exaggerates the annual increase, but the more recent three-month-on-three-month series still shows a clear pick up in price growth since July. The price of a typical house is now £169,413, almost £13,000 more than at this time last year and the equivalent of a rise of more than £35 per day over the last 12 months.”