The average house price was recorded at £232,249 in October.
House prices in October saw a yearly increase of 0.9% according to the latest Halifax House Price Index.
The average house price was recorded at £232,249 which is a monthly decrease of 0.1%.
On a quarterly basis, house prices were 0.2% higher between August and October compared to prices seen between May and July.
Russell Galley, managing director at Halifax, said: “Average house prices continued to slow in October, with a modest rise of 0.9% over the past year.
"While this is the lowest growth seen in 2019, it again extends the largely flat trend which has taken hold over recent months.
“A number of underlying factors such as mortgage affordability and wage growth continue to support prices, however there is evidence of consumers erring on the side of caution.
“We remain unchanged from our view that activity levels and price growth will remain subdued while the UK navigates political and economic uncertainty.”
Gareth Lewis, commercial director at MT Finance, added: "There are positive signs - people have the ability to transact with mortgages cheap and unemployment low.
"There has been an uptick in the number of mortgages being approved, albeit from a low base, but it isn’t translating into the consumer confidence we need and stimulation in the market.
"People have been cautious about making big decisions such as buying a home because of Brexit and are going to be even more so now with the General Election.
"If we have a hung parliament there will be further frustrations to come."
These figures come as mortgage approvals rose in September to 65,919 which represented a 0.4% monthly increase according to the Bank of England.
HMRC data also revealed that UK home sales in September reached their highest level since 2017, peaking at 101,740.
Mark Harris, chief executive of SPF Private Clients, said of the latest figures: "This may be the lowest growth in house prices we have seen all year but it is no surprise as Brexit concerns, coupled with a General Election, are thrown into the mix.
"This trend is set to continue until both of these are resolved. "Meanwhile, lenders remain extremely keen to lend, particularly as they look towards year-end and how much business they have done."
Jonathan Samuels, chief executive of Octane Capital, concluded: “Just as it is for Boris Johnson, it’s judgement day for the property market in December.
“The General Election result will decide the fate of the market for the next five years.
“October, once again, saw much of the same, namely flat price growth across the board.
“Ultra-low borrowing rates, low supply and a strong jobs market are keeping annual price growth in the black, just.
“In the General Election, the property market is fast approaching its most radical juncture for decades.”
