View more on these topics

Annual UK house price growth slows

Home-House-Property-Residential-UK-700x450.jpg

Annual UK house price growth slowed to 4.6 per cent in May, down from 5.2 per cent a month earlier, the latest Nationwide house price index reveals.

House prices rose by an average of 0.3 per cent during the month, compared to a 1 per cent increase in April. The average price of a house in the UK in May was £195,166, compared to £193,048 a month previous.

Nationwide chief economist Robert Gardner expects annual house price growth to trend towards earnings growth – around 4 per cent – over the long-term.

He says: “The annual pace of house price growth slowed to 4.6 per cent in May. This resumes the gradual downward trend that had been in evidence since the summer of 2014, which was briefly interrupted in April when house price growth edged up to 5.2 per cent from 5.1 per cent in March.

“Over the longer term we would expect house price growth to converge with earnings growth, which has typically been around 4 per cent per annum.

“However, much will depend on supply side developments – in recent years the rate of building activity has remained well below that required to keep up with population growth.”

Recommended

House-Home-Property-Ladder-Mortgage-700x450.jpg

Halifax: Consumers less confident about housing market

Consumers’ confidence in the housing market has dipped slightly despite the record-low interest rate environment and average house prices continuing to climb. According to Halifax’s housing market confidence tracker, which polled 1,025 British adults, a net balance of 58 believe house prices are set to rise. The net balance is determined by subtracting those who […]

Former Lib Dem leader Charles Kennedy dies

Former Liberal Democrat leader and MP of 32 years Charles Kennedy has died at his home at the age of 55. No cause of death has been announced, but police said it was not suspicious, the BBC reports. Kennedy became the youngest MP in the country when he was elected to the Ross, Cromarty and […]

Dean Julie Cazenove

Sanditon launches UK fund for Julie Dean

Sanditon Asset Management has announced details of the TM Sanditon UK Fund which it is set to launch on 22nd June. The fund, managed by investment manager Julie Dean, will invest in 35 to 65 listed equity securities issued by UK companies. It will sit in the IMA UK All Companies sector. It seeks to achieve returns 2 per […]

EU-Euro-Europe-Eurozone-700x450.jpg

Eurozone inflation to hit 0.3% in May

Eurozone inflation is expected to rise to 0.3 per cent in May, an increase of 30 basis points from the 0 per cent figure recorded in April, according to EU statistics agency Eurostat. The return to inflation, which follows five months of falling or stagnant prices, follows a 1.3 per cent increase in the price […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment