Property boom continues as average UK house price climbs 10.9% in a year – official data

London's average property price dropped by a sharp 2.9% in September, according to the latest official statistics, taking annual growth in the capital down to +2.8% (from +6.7% in August)

"Buyer demand remains high but there are now signs that market is softening," says Zoopla's research chief, as more vendors cut asking prices and deals take longer to materialise.

Surging house price inflation has pushed 4.3 million homes into a higher stamp duty bracket since the start of the pandemic, estimates Zoopla.