By Jonathan Davies

The growth of the housing market is 'losing momentum', according to Nationwide Building Society.

The country's second biggest mortgage lender said house price growth had slowed to 9% in October, down from 9.4% in September.

It comes just days after the Land Registry said house prices actually fell in September.

Nationwide said industry figures suggested the market was "losing momentum".

The lender said house prices were up 0.5%, based on its own data, and the average price of a house bought using a Nationwide mortgage is now £189,333.

Robert Gardner, Nationwide's chief economist, said: "A variety of indicators suggest that the market has lost momentum.

"The number of mortgages approved for house purchase in September was almost 20% below the level prevailing at the start of the year."

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