UK House Prices Slow Down for 7th Month in a Row

UK house prices rose by 0.1% in March, according to the latest figures from Nationwide building society, but in some parts of the country prices are lower than at the start of the year.

The latest monthly snapshot of the market from the UK’s biggest building society showed the annual rate of growth softened for the seventh consecutive month, and now stands at 5.1%, against its recent peak of 11.8% in June 2014.

Nationwide said the average price of a home was now 2% above its pre-crisis peak, at £189,454. The figures are based on mortgages approved by the society, adjusted to reflect the typical home and are the first to show us what prices have been agreed in March and over the first quarter.

Separate figures from Land Registry based on sales registered in February put the average price of a home in England and Wales at £180,252, an increase of 0.5% on January’s figure and up by 6.5% on February 2014.

via The Guardian

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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