Average UK house price drops by 0.1% in year to September, data shows

Office for National Statistics says figure stood at £291,000 after first annual fall for more than a decade

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The average price of a home in the UK dropped by 0.1% in the year to September, official figures have shown – the first annual fall for more than a decade.

The Office for National Statistics (ONS) figures, which are based on completed sales, have shown annual price inflation slowing since July 2022, when the headline rate stood at 13.8%.