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- UK annual house price growth slows to its weakest pace since February 2013
UK annual house price growth slows to its weakest pace since February 2013
Annual house price growth slows to its weakest pace since February 2013
Prices fell 0.7% in the month of December, after taking account of seasonal factors
Outer Metropolitan and London regions both recorded small house price declines in 2018
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house price growth slowed noticeably as 2018 drew to a close, with prices just 0.5% higher than December 2017. “This marks a noticeable slowdown from previous months, where prices had been rising at a c2% pace. However, it is broadly in line with our expectations (since the start of the year we had been anticipating a price rise of c1% in 2018). “Indicators of housing market activity, such as the number of property transactions and the number of mortgages approved for house purchases, have remained broadly stable in recent months, but forward-looking indicators had suggested some softening was likely”.
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