UK house prices stagnate in September

British house prices stagnated for the second month running during September as both buyers and sellers sat on their hands, figures showed today.

The average cost of a home in England and Wales remained unchanged at £176,300 (€253,000) during the month, while the annual rate of growth fell back to 5%, down from a recent high of 6.8% in April, according to property group Hometrack.