The UK Nationwide House Price Index rose 0.8% year-on-year in September 2026, easing from a 1.6% increase in August and below the estimated 1.3% rise. It marked the lowest reading since December 2025. Nationwide Chief Economist Robert Gardner said market activity and house prices have remained subdued in recent months, partly reflecting the uncertain economic backdrop, with the conflict in the Middle East putting upward pressure on energy prices and fueling inflation concerns. However, he noted that private-sector wage growth has remained modest, which should give policymakers breathing room to assess the extent to which tighter policy is necessary to ensure inflation returns sustainably to target. Gardner added that affordability is improving as house price growth has remained well below earnings growth for some time, although higher mortgage rates have offset some of the gains. On a monthly basis, house prices fell 0.2%, following a 0.2% rise in August.