UK’s housing prices grew, although general picture has not changed

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UK’s housing prices grew, although general picture has not changed

October 02, 2018 - 12:30
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UK’s housing prices grew in September, although general picture of the country’s property market has not changed, Bloomberg reports. Values rose by 0,3% in a month, after falling by 0,5% in August.

Photo © Albrecht Fietz, CC0 1.0

UK’s housing prices grew in September, although general picture of the country’s property market has not changed, Bloomberg reports.

Values rose by 0,3% in a month, after falling by 0,5% in August. Price growth per year was 2%. Data by regions showed that prices in London have been falling for five quarters already. They dropped 0,7% in last three months.

UK’s housing market continues weakening after long boom amid uncertainty over Brexit, as well as after Bank of England’s interest rates hike to the highest level since August 2009.

Earlier this week data showed increase in quantity of approved mortgages in August, although this number has not changed a lot since the last year.

According to experts of Nationwide, slower economic activity and pressure on households’ budget will continue having negative impact on property market and limit price growth.