Housing market is losing momentum according to Nationwide

June 1, 2017

Nationwide House Price Index May 2017 released today headlines ‘Further slowing in annual house price growth in May.’

House prices show third consecutive monthly decline for the first time since 2009.

Annual house price growth dips to 2.1% from previous 2.6% in April, providing further evidence that housing market is losing momentum.

Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “House prices recorded their third consecutive monthly fall in May – the first time this has occurred since 2009. The annual rate of growth slowed to 2.1%, the weakest in almost four years.

“It is still early days, but this provides further evidence that the housing market is losing momentum. Moreover, this may be indicative of a wider slowdown in the household sector, though data continues to send mixed signals in this regard”. more…

Read the Nationwide House Price Index May 2017 report with all comments from Robert Gardner in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Fast track to London: The Essex villages offering country living and commuter convenience

For London buyers looking to exchange city life for more space, greenery and a stronger sense of community, Essex offers an appealing combination of countryside living and convenient connections into the capital. The rise of hybrid working has changed what buyers expect from a commuter location, and rather than simply searching for the shortest possible…
Read More →
Breaking News

‘Spider season’ hits UK bedrooms

‘Spider season’ hits UK bedrooms – expert shares FIVE expert tips on keeping eight-legged visitors at bay As autumn sets in, millions of UK households are bracing themselves for ‘spider season’, the surge of male spiders entering homes in September and October in search for a mate. One of the most common places that spiders…
Read More →
Estate Agent Talk

Good-view homes command 81% premium

The latest research from UK Property Development (UKPD) reveals that new-build homes that boast a good view command an average price premium of 81.4% compared to overall new-build prices, with the premium in London approaching 110%. UKPD has analysed the estimated average asking price of new-build homes in England marketed as offering a ‘good view’,…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Want to Be in Your New Home by Christmas?

Moving house can be a complex and stressful process, with delays at various stages potentially putting completion dates at risk. Government data shows that the average home purchase takes around 120 days to complete, while around one in three property sales fall through, costing sellers an estimated £400 million each year. With Christmas now just…
Read More →
what is happening to house prices
Estate Agent Talk

Help Buyers to get Britain Building

Tim Foreman, Managing Director of Land and New Homes, LRG, comments: It is clear that Labour cannot meet its housing ambitions just through planning reform. It is imperative that Andy Burnham uses time at the upcoming Labour Party Conference to back a targeted successor to Help to Buy – one that restores demand without repeating…
Read More →
Letting Agent Talk

Landlords say managing rentals has become harder

Three-quarters of portfolio landlords say managing rentals has become harder   The latest research from residential property management specialist, Rushbrook, has found that almost three-quarters of portfolio landlords say managing their rental portfolio has become harder in recent years, with the changing legislative landscape now prompting many to reconsider whether they need professional help with…
Read More →