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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.
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15 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.
·New York, United States
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Housing market outlook remains uncertain, Nationwide reports
House prices remained flat at £277,484 in June as the housing market softened, despite annual house price growth edging higher to 2.2% from 1.7% in May, according to Nationwide Building Society. Robert Gardner (main picture), its Chief Economist, says: “It is not surprising that the market has softened a little in recent months, given the uncertainty caused by developments in the Middle East and the subsequent rise in energy prices and market in…
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Total News Sources15
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
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