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UK house prices rise in August despite economic headwinds, Nationwide says
Annual house price growth quickened to 1.6% as affordability improved, though higher mortgage rates and weak activity continued to limit the market, Nationwide said.
- UK property values increased by 1.6% annually in August to an average of £275,465, with prices edging up 0.2% month-on-month, according to Nationwide Building Society.
- Geopolitical tensions in the Middle East continue to exert upward pressure on energy prices and interest rates, contributing to the subdued market conditions Nationwide chief economist Robert Gardner described.
- Sarah Coles, head of personal finance at Bell, noted: "Recent house sales figures show that while properties aren't selling like hot cakes, they're not going stale and being marked down dramatically either."
- Propertymark chief executive Nathan Emerson described the wider economy as "finely balanced," while Iain McKenzie of The Guild expects activity to build through autumn if mortgage rates stabilize.
- Nicky Stevenson of Fine emphasized that national house price figures only tell part of the story, as "local market conditions can vary significantly" for buyers and sellers this autumn.
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UK house prices rise in August despite economic headwinds, Nationwide says
British house prices rose in August, according to data from mortgage lender Nationwide Building Society on Tuesday that suggested demand held up despite an uncertain economic outlook and the impact of the war in Iran.
·London, United Kingdom
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Evening Standard+4 Reposted by 4 other sources
Average UK house price edged up by 0.2% in August, says Nationwide
Market activity and house prices have remained subdued in recent months, partly reflecting the uncertain economic backdrop, the building society said.
·London, United Kingdom
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House prices remain sluggish in ‘subdued’ property market
House prices continued their sluggish run in August, gaining just 0.2 per cent on the previous month, as uncertainty caused by the Iran war and the upcoming Budget in October weigh on the market. The average UK house price grew by 1.6 per cent to £275,465 in the year to August, marking a slight improvement [...]
·London, United Kingdom
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Total News Sources15
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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