US EditionUK house prices unexpectedly fell in August, Nationwide data shows
UK house prices fell 0.1% in August with annual growth slowing to 2.1% amid high mortgage payments and tax policy uncertainties affecting market confidence, Nationwide said.
- UK house prices fell by 0.1% in August, according to Nationwide Building Society, as buyers faced high valuations.
- Prices increased by 2.1% compared to the previous year, representing the weakest growth rate since June of last year, as reported by Nationwide.
- Robert Gardner, Chief Economist at Nationwide, stated that affordability remains stretched as average mortgage payments are high relative to wages.
- Concerns about potential tax increases could further impact buyer sentiment, according to Ashley Webb, UK economist at Capital Economics.
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Nationwide House Price Index: Sellers hit by ‘seasonal summer slump’ as property chiefs foresee ‘momentum returning quickly’
Nationwide’s House Price Index (HPI) has shown house price figures across the nation dwindling after July saw a small and fleeting increase.Data has revealed that prices have dropped by 0.1 per cent over August, following a 0.5 per cent increase in July. Annual house price growth cooled down too, dropping to 2.1 per cent from 2.4 per cent. Generally, the summer months are known for their ability to put the brakes on the housing market due to the…
·London, United Kingdom
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Coverage Details
Total News Sources24
Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 33%
C 44%
R 22%
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