BREAKING NEWS

BREAKING NEWS

UK house price rise slips back to five-year low - Nationwide

Now Reading:

UK house price rise slips back to five-year low - Nationwide

UK house price rise slips back to five-year low - Nationwide
@ Copyright :
Toby Melville(Reuters)
Text size Aa Aa

LONDON (Reuters) - 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.

Nationwide's measure of house prices was showing increases of about 5 percent a year shortly before the 2016 referendum decision to leave the European Union. Britain's overall economy has slowed since the vote.

Nationwide said it continued to expect house prices to rise by 1 percent in 2018.

A Reuters poll published earlier this week showed economists expect house prices to increase nationally by 2 percent this year and next.

(Writing by William Schomberg; Editing by Costas Pitas and Edmund Blair)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.