Wednesday, 1 December 2021

British house prices rise slips back to five-year low

LONDON: British house prices grew by a weaker than expected 2.0 percent in August, mortgage lender Nationwide said, slipping back to a level last seen in June when prices rose at their slowest in five years.

The slowdown is the latest sign of how the housing market has slowed since the 2016 Brexit vote.

Economists taking part in a Reuters poll had expected prices to rise by a stronger 2.7 percent.

In monthly terms, prices fell by 0.5 percent in August from July. The Reuters poll had pointed to a 0.1 percent monthly increase.

 

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