By Daniel Hunter
The rapid annual growth of house prices in the UK will moderate in the final few months of the year, according to Halifax.
The mortgage lender said price growth had peaked at around 10% and will become "better balanced" in the rest of 2014 and throughout 2015.
Halifax's latest survey shows that prices grew by 9.6% in September, compared with the same month last year. That's a rise of 0.6% on August's growth and the average house price is now £187,188.
Jonathan Samuels, chief executive of Dragonfly Property Finance, said: "While the monthly figure of 0.6% growth is at odds with the Nationwide's -0.2%, there is, without doubt, a broader slowdown in the market. Both borrowers and lenders have become more cautious and this is moderating price growth.
"People sense that prices are toppy in some areas, know that an interest rate rise is coming and, despite the economic recovery, are not seeing any material change in their pay packets. The MMR has clearly put the brakes on the mortgage market. Bank of England data issued this week showed that the availability of mortgages fell quite sharply over the summer months."
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