UK house prices stagnate for first time since mid-2021, Nationwide says
LONDON (Reuters) -British house prices failed to rise in monthly terms for the first time since July 2021, mortgage lender Nationwide said on Friday, a latest sign of the slowdown in the market caused by the cost-of-living squeeze and rising interest rates.
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LONDON (Reuters) - British house prices were unchanged in September from August, mortgage lender Nationwide said on Friday.
House prices were 9.5% higher than in September last year, Nationwide said.
Economists polled by Reuters had forecast monthly and annual price rises of 0.3% and 10.0% respectively.
Britain’s housing market has shown signs of cooling from its coronavirus pandemic boom as a cost-of-living squeeze tightened and the Bank of England raised interest rates to tackle fast-rising inflation.
Writing by William Schomberg; editing by William James
