Rubbish Talk app Cut the spin.
Read the facts. Suspicious of a headline?
Check it.
Rubbish Check
Daily Mail Money (This is Money) · 1 October 2026 source

“House price growth halves in September and values down £4,639 in five months as mortgage rates rise”

R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
12345678910
In short
Rubbish Talk rates Daily Mail Money's claim that UK house price growth halved in September and values fell £4,639 in five months a 2/10 because both figures match Nationwide's own published index almost exactly, with mortgage rates as a genuine contributing factor.
The Verdict
Base fact, lightly altered. The headline's two numbers, the halving of annual growth and the five-month price drop, are both directly lifted from Nationwide's September House Price Index rather than cherry-picked or recalculated. The only iteration away from pure base fact is compressing "mortgage rates rising" into the causal driver when Nationwide's own economist frames it as one of several pressures (geopolitical tension, inflation expectations, rate expectations) alongside a genuinely weak buyer-to-seller ratio.

What actually happened

Nationwide's September index recorded annual house price growth halving to 0.8%, the weakest pace since December 2025. Prices fell 0.2% month-on-month, and the index has now logged a cumulative £4,639 fall in the typical home's value since April, against a backdrop of mortgage rates climbing back above 5% after sub-4% deals were common earlier in the year.

Key facts

  • Annual growth: 0.8% in September, down from UK annual house price growth halved to 0.8% in September, from 1.6% in August (vs 1.3% expected, per market consensus).
  • Monthly change: UK September Nationwide house prices -0.2% vs 0.0% m/m expected, Prior +0.2%.
  • Weakest annual pace: Annual house price growth halved to 0.8%, its weakest pace since December 2025, while prices also slipped 0.2% on the month.
  • Average price fell from £275,465 in August to The average price dropped from £275,465 to £274,251, with annual growth halving from 1.6% to 0.8%, consistent with the article's £274,251 figure and the £4,639 five-month decline cited.
  • Regional split: North West and North East up, London commuter belt and East Anglia down, matching the article's regional breakdown.
  • Mortgage pricing: sub-5% two-year fixes have largely vanished, with most borrowers now paying 5 to 5.5%, versus sub-4% rates (some at 3.5%) earlier in the year, per the article.
  • Mortgage approvals: net approvals for house purchase fell to 54,900 in August, down from 55,900 in July and below the prior six-month average.

What to watch for

  • Watch whether Nationwide's October release shows growth turning negative year-on-year, which would be a bigger story than a halving.
  • The Bank of England's next approvals data will show if the August dip to 54,900 was a blip or the start of a trend tied to rates above 5%.
  • Gardner's framing leans on geopolitical and inflation-expectation drivers for rate rises; watch whether later BoE commentary attributes the rate path differently.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
Share this CheckXFacebookLinkedInEmail