House price inflation slowed to 9.3% in March, the latest figures from Nationwide reveal.
Nationwide says the underlying trend is softening as interest rate rises feed through but supply constraints will continue to support prices.
Fionnuala Earley, chief economist at Nationwide, says: “The housing market showed further signs of cooling during March.
The price of a typical house increased by 0.4% during the month, bringing the annual rate of house price inflation back into single
digits at 9.3%.
The price of a typical property in the UK is now 177,083, 15,000 higher than at this time last year.
This is the equivalent of a monthly rise of 1,250 or 41 per day.