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UK house prices rise in April despite Iran war headwinds, Nationwide says
Nationwide said average prices rose to £278,880 as household savings and wages helped offset higher borrowing costs, surprising economists who expected a decline.
- Nationwide reported house prices increased 0.4% in April to $379,000, extending March's 0.9% gain and defying a 0.3% decline expected by economists.
- Despite the Iran war pushing up mortgage rates, the market remained resilient; Robert Gardner, Nationwide chief economist, attributed stability to the relative strength of household finances.
- On an annual basis, house prices rose 3%, though Pantheon chief economist Rob Wood cautioned that it is "unlikely that house prices can keep up this pace."
- The Bank voted on Thursday to keep borrowing costs on hold, while Lender Halifax reported a decline in home values, offering mixed evidence on conflict impact.
- Household debt remains near a two-decade low relative to income, and Fixed-rate mortgage costs remain below their 2023 peak, supporting continued market resilience.
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UK house prices rise in April despite Iran war headwinds, Nationwide says
British house prices unexpectedly rose for a fourth month in a row in April, despite headwinds to consumer confidence from conflict in the Middle East, mortgage lender Nationwide Building Society said on Friday.
·United Kingdom
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Annual house price growth rises 3% in April: Nationwide
UK annual house price growth picked up to 3.0% in April, from 2.2% in March, and house prices were up 0.4% month on month, according to the latest data from the Nationwide House Price Index. Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said:… The post Annual house price growth rises 3% in April: Nationwide appeared first on Mortgage Finance Gazette.
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Leaning Left1Leaning Right1Center2Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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