Annual house price growth turned to a 1.2% decline, the biggest fall since October 2023.

Regional price growth remains uneven, with Scotland leading annual gains and London the only region recording a fall.

The group projects GB prices rising 1.0% in 2026 and 2.5% in 2028 after higher borrowing costs cut transactions by around 100,000.

UK annual house price growth softened to 0.5% in October.

Zoopla’s latest index shows house price falls concentrated in London and the South East, while the North West leads gains across the rest of the country.

Northern Ireland recorded the strongest annual increase among the UK nations, while England's house price growth slowed to 0.4%.

Fewer than one in ten Scottish flats held for five to ten years sold below their previous recorded price.

The average UK property now costs £298,441, up marginally from £298,395 in August.

Prices fell 0.2% month on month in September, taking the average UK price to £274,251 from £275,465 in August.

Average mortgage rates have reached 5.2%, up from 4% at the start of the year, adding £150 a month to typical repayments.