House prices dip £1,000 in September

Property price gap at record level

House prices fell back from a record high in September with the first month-on-month decrease in more than a year, building society Nationwide has reported.

A fall of 0.2% took the average UK property price to £188,374, edging down from the all-time peak of £189,306 recorded in August.

The monthly price decrease follows 16 months in a row of increases and ends the run of property prices across the country hitting fresh highs over the summer.

Typical UK house prices surpassed their 2007 peak in cash terms in May this year and up until this month they had been reaching new records ever since.

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The World's Most Expensive House

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Prices still up on last year

Year-on-year house price growth slowed to 9.4% in September, from 11% in August. Year-on-year price growth had previously been hitting double digits since April, according to the building society's study.

Despite the slowing pace of house price growth, every region across the UK recorded year-on-year house price gains, from 21% in London to 4.3% in the north of England.

At £401,072 on average, London house prices reached a new record high in September and now stand at 31% above their 2007 pre-financial crisis peak in the capital.

Most expensive property for sale at £90m is a terrace
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House prices dip £1,000 in September

It may come as a surprise to hear that the world's most expensive property for sale is a terrace.

However, the luxurious property is located on one of London's most exclusive streets; Mayfair's Hill Street, which runs from Berkeley Square towards Park Lane - hence the expensive price tag. 

The £90m mansion features an impressive 21 bedrooms and 21 bathrooms. 

​The palatial house is four windows wide and covers almost 19,000 sq ft.

It also features 7 reception rooms.

The grand residence has been completely refurbished to a very high standard. 

The property has a spacious mews house to the rear and also features a garage large enough for four limousines.

It also comes with air cooling, a swimming pool, sauna and treatment room. A lot more than the average terraced property!

The elegant entertaining space is served by a new glass lift.

The iconic Hill Street is just a short walk away from Green Park and Hyde Park and is a very desirable area. 


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