UK house prices rise at fastest pace in three months in August - Nationwide
Reuters
Published Aug 30, 2019 08:36
LONDON (Reuters) - British house prices rose in August at the fastest annual pace in three months, mortgage lender Nationwide said on Friday, adding to tentative signs the housing market has picked up from its recent pre-Brexit slowdown.
House prices rose 0.6% year-on-year after a 0.3% rise in July, Nationwide said. On the month, prices were flat.
British house price growth has sagged since the 2016 Brexit referendum - especially in London and neighbouring areas - but at a national level the market appears to have stabilised, surveys suggest.
"With the economy struggling and the outlook currently highly uncertain, we suspect that house prices will remain soft despite the recent pick-up in housing market activity - which could well prove temporary," said Howard Archer, chief economist adviser to the EY ITEM Club consultancy.
He added that he expected house price growth of just 1.0% for 2019 as a whole, using Nationwide's measure.
On Tuesday, industry body UK Finance said British banks last month approved the most mortgages since February 2017. Official figures from the Bank of England are due at 0830 GMT.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.