The UK's house price growth has slowed to 1.3%, with sales agreed 9% below last year's level, Zoopla has revealed. This slowdown is attributed to higher mortgage rates and political uncertainty.
The summer period has seen a sharper slowdown than usual across most of the country. The North East is the only region to buck this trend, with sales agreed approximately 4% higher than a year ago.
Almost three-quarters of local housing markets, 76%, recorded fewer sales over the past three months compared to a year earlier. However, 24% of markets saw sales hold steady or increase.
The average UK property has gained £3,400 in value over the past 12 months, now worth £272,800. London recorded an average fall of £3,270, and properties in the South East lost £1,480.