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The Nationwide Building Society released its house prices data for the U.K. on Thursday. UK house prices were up 0.5% in September, exceeding expectations for a 0.4% rise, after a 0.4% increase in August.
On a yearly basis, house prices rose to 3.8% in September from 3.2% in August, in line with expectations.
"The data in recent months provides some encouragement that the pace of house price increases may be stabilising close to the pace of earnings growth. However, the risk remains that construction activity will lag behind strengthening demand, putting upward pressure on house prices and eventually reducing affordability," Nationwide's chief economist, Robert Gardner, said.
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