Nationwide, Seoul house prices rise, fall in 10 months

The increase in apartment prices in Seoul, which was the highest in five years and 11 months on a monthly basis in August, decreased in September.

The Seoul apartment sales price index for September, released by the Korea Real Estate Agency, rose 0.79 percent from the previous month, down sharply from the 1.27 percent gain in August.

The nationwide apartment price growth rate in September was also 0.23%, slowing from 0.33% in the previous month.

Looking at the total sale price of houses, including non-apartments, the increase in the nation and Seoul in September was 0.17% and 0.54%, respectively, down from the previous month.

It is the first time in 10 months that the increase in home sales prices has decreased compared to the previous month in both the country and Seoul since November last year.

The rate of increase in jeonse prices across the country and Seoul in September also recorded 0.19% and 0.40%, respectively, down from the previous month's increase.

Monthly rent also showed 0.11% and 0.23%, respectively, down 0.01%p from the previous month's August increase.