Slowdown in house price growth
August 27, 2015
House price growth in Britain slowed in August, according to the mortgage lender Nationwide, this is confirmed in the results from their monthly survey released today.
The price of a home increased at a 0.3% month-on-month pace in August, this was below what economists were expecting at a 0.4%. The year-on-year pace of inflation was down to a 3.2% versus the 3.5% seen in July, economists expected 3.1% year-on-year.
The average price of a home in the UK slipped to a non-seasonally adjusted value of £195,279 in August, down from £195,621 in July.
Nationwide chief economist Robert Gardner reportedly said, “the drop in the year-on-year rate of change in home prices might be proof that house price inflation was stabilising close to the historical 4% rate of growth in earnings.”
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