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UK house price growth strongest since December 2024 but Iran war clouds outlook
UK house price growth rose 2.2% annually in March despite mortgage rates increasing and geopolitical tensions affecting demand, Nationwide reported a 0.9% monthly rise.
- On Tuesday, Nationwide Building Society reported UK house prices rose 0.9% in March, exceeding economist forecasts and marking the largest monthly increase since December 2024.
- Escalating conflict in the Middle East has pushed up energy prices and borrowing costs, creating a significant shock that clouds the economic outlook for home-buyers.
- Across the UK, annual house price growth reached 2.2% in March, up from 1.0% in February, with Northern Ireland up 9.5% and Outer South East down 0.7%.
- Mortgage lender Nationwide warned higher borrowing costs will filter into the market this spring, while financial information website Moneyfacts reports lenders have withdrawn hundreds of deals.
- Financial markets see a 50-50 chance of the Bank of England raising interest rates to 4% next month, as S&P Global data shows prolonged construction downturn.
11 Articles
11 Articles
Evening Standard
The IndependentPick-up in house price growth in March ‘could be the calm before the storm’
Growth in property values picked up in March, but experts said the effects of the Middle East conflict have not yet fully filtered into the figures.
UK house price growth strongest since December 2024 but Iran war clouds outlook
British house prices rose by more than expected this month, data showed on Tuesday, but the housing market is likely to slow as an increase in borrowing costs, triggered by the Iran war, impacts affordability.
Annual house price growth increases 2.2% in March: Nationwide
UK annual house price growth picked up to 2.2% in March, from 1.0% in February, the latest Nationwide house price index reveals. Prices increased by 0.9% month on month, after taking account of seasonal effects. Data found Northern Ireland was the best performing area in… The post Annual house price growth increases 2.2% in March: Nationwide appeared first on Mortgage Finance Gazette.
House prices pick up but property outlook remains ‘clouded’
House prices picked up in March as the property market gained traction after a slow start to the year, though experts warn the Iran war could “cloud” this momentum. The UK’s house prices rose by 2.2 per cent year on year in March, up from one per cent growth in the year to February, as prices grew 0.9 per cent month on month, according to Nationwide’s house price index. This house price growth comes among other indications that the property mark…
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