In July, the average price of a typical property in the U.K. increased a seasonally adjusted 0.2% over the previous month to GBP 168,731, based on data collected by the mortgage lender Nationwide Building Society (NBS). The reading was above June's flat reading and contrasted market expectations of a 0.2% decline. On an annual basis, house prices moderated for a fourth straight month and were down 0.4% (June: -1.1% year-on-year). Compared to the peak reached in October 2007, prices are down 9.3%. According to NBS, sluggish demand for homes, combined with only a gradual rise in the supply of available properties will prolong the stagnation experienced in the property market.
United Kingdom Housing
House prices edge up
July 29, 2011
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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.