UK House Prices See Slowest Growth Since 2009

Asking prices for homes in England and Wales are rising more slowly due to rising consumer price inflation, worries about Brexit and tighter lending rules, property data firm Rightmove said on Monday, adding to signs of a slowing property market.

Prices sought by sellers during the month to Feb. 11 – when there is typically a seasonal price spike of about 5 percent – were just 2.0 percent higher than the month before, the weakest increase for the time of year since 2009.

Compared with a year earlier, asking prices were 2.3 percent higher, the smallest increase since April 2013.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.