UK House Prices Fall in February

House prices fell by 0.1% in February, according to the latest figures from the UK’s largest building society, as a slowdown in activity continued to draw the heat from the market.

But separate figures from the Bank of England showed mortgage approvals rose for the second consecutive month in January, prompting some experts to predict house prices will start rising again soon.

The Nationwide report showed the annual rate of price inflation fell for the sixth month running to stand at 5.7% – less than half the 11.8% rate in June 2014 and its lowest level for 16 months.

The average price of a UK home has fallen back to £187,964, from the recent peak of £189,306 in August.

Nationwide’s figures, which are based on home loans it has approved during the month and adjusted to reflect the makeup of a typical house, are the first to show prices for February.

They are in line with other indicators, which have shown falling interest from buyers and a change of mood from a year ago when prices in London and south-east England were spiralling upwards.

via The Guardian

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza