In August, the price of a typical house rose a strong 1.3% over the previous month, according to data collected by the mortgage lender Nationwide Building Society (NBS). The reading represents the largest increase since January 2010, contrasting the 0.8% decline seen in July and coming ahead of market expectations, which expected home prices to rise only 0.1%. The NBS acknowledged the favourable developments in August, but warned that "monthly price changes have been impacted by a number of one-off factors this year, such as the ending of the stamp duty holiday for first time buyers. These are factors that cannot be controlled by the usual process of seasonal adjustment". Building on the strong monthly rise, home prices reached approximately GBP 164,700 which was 0.7% below the level observed in the same month last year. The reading represents an improvement over the 2.6% contraction seen in July.
United Kingdom Housing
Home prices rise the most in over two years
September 3, 2012
Looking for forecasts related to Housing in United Kingdom? Download a sample report now.
United Kingdom Housing Chart
Note: Average price of a typical property in the U.K. and seasonally adjusted month-on-month variation in %.
Source: Nationwide Building Society (NBS).
United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.