UK house prices have experienced their highest annual growth since 2022, according to Nationwide. In September, house prices rose by 3.2% compared to the same month last year, bringing the average home price to £266,094. This increase marks a significant jump from the 2.4% annual growth recorded in August and is the fastest rate since the 4.4% rise noted in November 2022. The surge in house prices is attributed to declining borrowing costs, fueled by expectations that the Bank of England will continue to lower interest rates. This trend has contributed to a more favorable environment for homebuyers, leading to increased demand in the housing market.