UK house prices flat in June but outlook brightens, Nationwide says
Nationwide said easing market interest rates could support a housing recovery as mortgage approvals fell and consumer confidence weakened.
- Nationwide Building Society reported UK annual house price growth reached 2.2% in June, up from 1.7% in May, with the average home price at £277,484.
- Market sentiment softened in recent months due to Middle East developments and rising energy prices, with consumer confidence and mortgage approvals falling noticeably in May.
- Regional data reveals stark disparities; Northern Ireland achieved 8.6% annual growth while London, the most expensive market at £540,903, grew just 1.6%.
- Homeowners faced a £540 monthly price drop despite annual growth; Independent Financial Adviser Malik warned that politicians 'floating kites' on tax changes could cool the market further.
- Shifting market expectations for the Bank Rate have lowered fixed-rate mortgage pricing; if maintained, these trends could ease affordability constraints and support housing recovery in coming quarters.
10 Articles
10 Articles
UK house prices flat in June but outlook brightens, Nationwide says
British annual house prices rose by less than expected in June, but softening expectations for interest rate hikes by the Bank of England are likely to improve affordability, mortgage lender Nationwide said on Wednesday.
Annual house price growth edges up in June to 2.2%: Nationwide
UK annual house price growth picked up to 2.2% in June, from 1.7% in May, Nationwide's house price index reveals. However, the index shows that prices were broadly flat in month-on-month terms, after taking account of seasonal effects. The average house price now stands at £277,484.…The post Annual house price growth edges up in June to 2.2%: Nationwide appeared first on Mortgage Strategy.
Experts react as Nationwide HPI reports flat monthly house price growth
UK house prices were unchanged in June, according to the latest Nationwide House Price Index, prompting industry experts to warn that affordability pressures, geopolitical uncertainty and buyer caution continue to weigh on market activity. Despite this, commentators across the industry say a highly regional market, easing mortgage rates and strong competition between lenders are helping to keep transactions moving, even as many buyers remain hes…
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