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October House Prices Stagnate

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LONDON (ShareCast) - The UK housing market ground to a halt this month, having jumped in October, proving further credence to reports that the market is levelling out.

The Nationwide building society said house prices were unchanged in November after

leaping 1.3% in October, suggesting prices have bottomed out.

Recent figures for mortgage approvals, including the official report from the BoE today, show that while demand is increasing prices are staying where they are.

The stagnant result takes the annual rate of increase down to just 2.4% having picked up to a healthier 3.3% in October.

The average price of a home, according to Nationwide, is £157,139 compared with £153,439 a year ago when inflation ran at 15%.

Note the words used: STAGNATE, PRICES STAYING WHERE THEY ARE, ANNUAL RATE DOWN TO JUST 2.4%. Nothing positive whatsoever except the extremely weak YOY price which is then contrasted to the mind-blowing 15% HPI the year before. The non-VI press are dying to start releasing sensational news about the crash and in the meantime have to moderate their language.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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