UK annual house price growth slows in July, Nationwide says
Annual price growth slowed from 2.2% in June as lenders raised mortgage rates and market activity stayed weak, Nationwide said.
- Mortgage lending rebounded as competition intensified, lifting activity despite muted growth. Nationwide Building Society reported average house prices edged 0.1% higher to £277,542 in July, following two months of stagnation.
- Financial markets have hiked mortgage rates in recent weeks, reflecting volatile expectations for future borrowing costs, while The Bank kept the Bank Rate at 3.75% on Thursday, warning Inflation may rise due to the Iran conflict.
- The Domain House Price Report released last week revealed a divergent Sydney market. Affordable suburbs recorded growth of 27 per cent, while prestige areas like Mosman and Woollahra experienced falls of at least 10 per cent over the past year.
- Marketing executive Lara Rinaldi settled on a $2 million duplex in Georges Hall four weeks ago with a $500,000 deposit. Rinaldi said she felt "comfortable" purchasing as the Market softened, capitalizing on reduced competition.
- Domain chief residential economist Nicola Powell noted investors are leaving the Market following May changes to negative gearing tax arrangements. This positions the current environment as an upsizers' Market, though turbulence remains for broader housing sectors.
23 Articles
23 Articles
UK annual house price growth slows in July, Nationwide says
British house prices rose for the first time in three months in July, mortgage lender Nationwide Building Society said on Friday, but the small increase was not enough to stop a slowdown in the annual rate amid an uncertain economic outlook.
The housing market is flat - but cautious optimism is back, says property expert
Forget the Summer doldrums: something is subtly changing in the housing market. I’m calling it cautious optimism. The numbers still look weak, I’ll admit. Rightmove says asking prices fell 1 per cent in July, to £372,359. That’s a steeper drop than the usual July dip, and sales are running 6 per cent behind last year. Buyers spent the month watching football and looking for ways to stay cool. Viewings came a distant third. Nationwide barely move…
Evening Standard
House prices edge higher in July amid ‘soft’ market, says Nationwide
Nationwide Building Society said house prices edged 0.1% higher month-on-month to £277,542 in July
House prices slump as Iran war and interest rates hit demand
House prices slumped in July after the Iran war and higher interest rates squeezed demand and triggered a slowdown in sales. Annual house price growth slowed to 1.8 last month, down from 2.2 per cent the prior month. Month on month, average house prices remained broadly flat, rising by just £58 to reach £277,542, up from £277, 484 in June. Uncertainty caused by the Iran war coupled with soaring energy prices rocked consumer confidence and market…
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