London is weakest performing region first time since 2005 says Nationwide
The latest Nationwide House Price Index report September 2017 headlines ‘London house prices fall for first time in 8 years’.
London is weakest performing region for first time since 2005, with house prices down 0.6% year-on-year.
UK annual house price growth stable at 2.0% in September.
Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The annual rate of house price growth remained broadly stable in September at 2.0%, compared with 2.1% in August.
“Housing market activity, as measured by the number of housing transactions and mortgage approvals, has strengthened a little in recent months, though remains relatively subdued by historic standards.
“Low mortgage rates and heatlhy rates of employment growth are providing some support for demand, but this is being partly offset by pressure on household incomes, which appear to be weighing on confidence. The lack of homes on the market is providing ongoing support to prices”. more….
Red the Nationwide House Price Index report September 2017 in full click here.