UK building society, Nationwide, today released their recent data showing that house price growth has come to a standstill with October growth failing to show up after 15 continuous months of increases. Not since June 2015 have house prices not increased in a month to month comparison of data. The average house price in October, according to Nationwide, was £205,904.

The average house price showed an annual slowdown to 4.6%.

Nationwide’s chief economist, Robert Gardner, remarked on the recent stall of the UK average house prices, saying, “After 15 successive monthly increases, UK house prices were unchanged in October after taking account of seasonal factors. As a result, the annual rate of house price growth slowed to 4.6%, from 5.3% in September, though this is still in line with the growth rates prevailing since early 2015.”

The average house how costs six times the average income earnings level in the UK. This is an increase from the 5.3 times income level reported in 2013. While house prices have increased by 20%, income has only grown by 6%, making it difficult for hopeful home buyers to climb onto the property ladder. However, the continued low interest rates offered by lenders are helping home buyers afford their dream property.

Mr. Gardner added, “The steady decline in borrowing costs over the same period has helped to lessen the impact on affordability for home-buyers. Indeed, the typical mortgage payment expressed as a share of average take-home pay is little changed over the period and is still in line with the long-run average.”