Slowdown in house price growth

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.”

 

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.

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