UK house prices rose 1.1 per cent in October, the Nationwide’s survey showed on Wednesday, but many saw the unexpectedly strong monthly gain as an aberration among signs of a marked slowdown in the housing market.

The month-on-month rise was the strongest since June, taking the annual rate of price growth from 9 per cent to 9.7 per cent. It followed a gain of 0.7 per cent in September’s survey.